FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Update

by · The Cerbat Gem

FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 35,100 shares, an increase of 99.4% from the September 30th total of 17,600 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 51,700 shares, the days-to-cover ratio is currently 0.7 days.

FlexShopper Stock Up 1.3 %

Shares of FlexShopper stock traded up $0.02 during trading on Monday, hitting $1.59. 451,001 shares of the stock traded hands, compared to its average volume of 55,099. The firm has a market cap of $34.59 million, a P/E ratio of -5.01 and a beta of 1.35. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. FlexShopper has a 52-week low of $0.94 and a 52-week high of $1.95. The stock’s fifty day simple moving average is $1.15 and its 200 day simple moving average is $1.14.

FlexShopper (NASDAQ:FPAY – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $31.76 million for the quarter, compared to analyst estimates of $31.00 million. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. On average, equities analysts predict that FlexShopper will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $2.50 price target on shares of FlexShopper in a research note on Wednesday, October 2nd.

Check Out Our Latest Stock Report on FPAY

Insider Buying and Selling

In other FlexShopper news, Director Howard Dvorkin bought 26,756 shares of FlexShopper stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $1.06 per share, for a total transaction of $28,361.36. Following the completion of the purchase, the director now directly owns 4,476,802 shares in the company, valued at approximately $4,745,410.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 58,148 shares of company stock worth $64,830 over the last three months. 36.70% of the stock is owned by insiders.

Hedge Funds Weigh In On FlexShopper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper in the 2nd quarter valued at $58,000. Renaissance Technologies LLC raised its stake in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after buying an additional 50,847 shares during the period. Finally, Heron Bay Capital Management purchased a new position in FlexShopper during the first quarter valued at $43,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

About FlexShopper

(Get Free Report)

FlexShopper, Inc, a financial technology company, operates an e-commerce marketplace to shop electronics, home furnishings, and other durable goods on a lease-to-own (LTO) basis. The company offers consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.

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