FlexShopper, Inc. (NASDAQ:FPAY) Sees Significant Growth in Short Interest

by · The Markets Daily

FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 402,800 shares, a growth of 1,047.6% from the October 15th total of 35,100 shares. Based on an average trading volume of 89,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 3.5% of the shares of the company are sold short.

FlexShopper Stock Up 5.0 %

FPAY stock traded up $0.06 during trading on Tuesday, hitting $1.27. 50,312 shares of the stock traded hands, compared to its average volume of 60,995. The company has a debt-to-equity ratio of 28.90, a current ratio of 15.78 and a quick ratio of 15.78. FlexShopper has a 1 year low of $0.94 and a 1 year high of $1.95. The stock has a market cap of $27.25 million, a price-to-earnings ratio of -5.26 and a beta of 1.33. The firm’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.15.

Hedge Funds Weigh In On FlexShopper

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position 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 valued at $282,000 after buying an additional 50,847 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper during the second quarter valued at $58,000. Finally, Heron Bay Capital Management bought a new position in FlexShopper in the 1st quarter worth about $43,000. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $2.50 price objective on shares of FlexShopper in a report on Wednesday, October 2nd.

Read Our Latest Stock Report on FlexShopper

FlexShopper Company Profile

(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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