Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Grows By 99.4%

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 35,100 shares, a growth of 99.4% from the September 30th total of 17,600 shares. Based on an average daily volume of 51,700 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the company’s shares are short sold.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Howard Dvorkin acquired 26,756 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired 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 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 58,148 shares of company stock valued at $64,830. 36.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Heron Bay Capital Management bought a new stake in shares of FlexShopper in the first quarter valued at about $43,000. Insigneo Advisory Services LLC bought a new stake in FlexShopper in the 2nd quarter valued at about $58,000. Finally, Renaissance Technologies LLC grew 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 worth $282,000 after purchasing an additional 50,847 shares in the last quarter. Institutional investors own 19.41% of the company’s stock.

FlexShopper Stock Performance

Shares of FPAY traded up $0.11 during trading hours on Friday, hitting $1.57. The company had a trading volume of 303,564 shares, compared to its average volume of 53,185. The firm has a market cap of $34.15 million, a price-to-earnings ratio of -4.91 and a beta of 1.35. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. The business has a fifty day moving average of $1.15 and a 200-day moving average of $1.14. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95.

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

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.