FlexShopper (NASDAQ:FPAY) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of FlexShopper (NASDAQ:FPAY) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $2.50 target price on the financial services provider’s stock.

FlexShopper Trading Up 4.9 %

FPAY opened at $1.28 on Wednesday. The company has a market cap of $27.84 million, a P/E ratio of -4.00 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. The company’s 50 day moving average is $1.08 and its 200-day moving average is $1.14. FlexShopper has a 1-year low of $0.94 and a 1-year high of $1.95.

FlexShopper (NASDAQ:FPAY) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates 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 negative net margin of 0.41% and a positive return on equity of 0.77%. Equities research analysts predict that FlexShopper will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Howard Dvorkin purchased 26,756 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $1.06 per share, with a total value of $28,361.36. Following the completion of the purchase, the director now owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 58,148 shares of company stock valued at $64,830 in the last 90 days. Corporate insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On FlexShopper

Several large investors have recently modified their holdings of FPAY. Renaissance Technologies LLC increased its holdings in FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares during the period. Insigneo Advisory Services LLC bought a new stake in shares of FlexShopper in the 2nd quarter valued at about $58,000. Finally, Heron Bay Capital Management acquired a new stake in shares of FlexShopper in the first quarter valued at about $43,000. Institutional investors own 19.41% of the company’s stock.

FlexShopper Company Profile

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.