FlexShopper (NASDAQ:FPAY) Given New $4.00 Price Target at Maxim Group

FlexShopper (NASDAQ:FPAY) had its price target hoisted by analysts at Maxim Group from $2.00 to $4.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Maxim Group’s price objective indicates a potential upside of 168.46% from the stock’s current price.

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

FlexShopper Price Performance

FPAY stock traded up $0.04 during mid-day trading on Friday, reaching $1.49. 62,910 shares of the company’s stock were exchanged, compared to its average volume of 63,269. The company has a market cap of $31.98 million, a price-to-earnings ratio of -6.41 and a beta of 1.33. The stock’s 50 day moving average is $1.20 and its 200 day moving average is $1.16. 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 12-month low of $0.97 and a 12-month high of $1.95.

Hedge Funds Weigh In On FlexShopper

Hedge funds and other institutional investors have recently bought and sold shares of the company. Heron Bay Capital Management acquired a new position in FlexShopper during the first quarter worth approximately $43,000. Insigneo Advisory Services LLC bought a new stake in shares of FlexShopper in the 2nd quarter valued at approximately $58,000. Renaissance Technologies LLC raised its stake in FlexShopper by 30.0% during 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 FlexShopper in the third quarter valued at $1,678,000. 19.41% of the stock is owned by institutional investors and hedge funds.

About FlexShopper

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.