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

by · The Markets Daily

FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 50,900 shares, a decline of 88.4% from the December 15th total of 437,900 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 226,500 shares, the days-to-cover ratio is currently 0.2 days.

FlexShopper Stock Performance

Shares of FPAY stock remained flat at $1.70 during mid-day trading on Tuesday. The stock had a trading volume of 203,935 shares, compared to its average volume of 760,045. FlexShopper has a 52-week low of $0.97 and a 52-week high of $2.37. The company has a 50-day moving average of $1.70 and a 200-day moving average of $1.35. The company has a debt-to-equity ratio of 19.65, a quick ratio of 7.98 and a current ratio of 7.98. The firm has a market capitalization of $36.48 million, a PE ratio of -10.00 and a beta of 1.43.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FPAY. Maxim Group lifted their price objective on FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, November 15th. HC Wainwright reiterated a “buy” rating and set a $2.50 price objective on shares of FlexShopper in a research note on Tuesday, December 24th.

Get Our Latest Stock Analysis on FPAY

Insider Activity at FlexShopper

In related news, CEO Harold Russell Jr. Heiser acquired 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $1.45 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the chief executive officer now owns 969,874 shares of the company’s stock, valued at $1,406,317.30. This represents a 3.19 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Insigneo Advisory Services LLC purchased a new position in shares of FlexShopper in the second quarter worth $58,000. Renaissance Technologies LLC grew its holdings in shares of FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 50,847 shares during the period. Finally, Waterfall Asset Management LLC bought a new stake in shares of FlexShopper in the third quarter worth $1,678,000. 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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