Paysafe (NYSE:PSFE) Sees Unusually-High Trading Volume – Should You Buy?

Paysafe Limited (NYSE:PSFE) shares saw unusually-strong trading volume on Thursday . Approximately 353,137 shares were traded during mid-day trading, an increase of 68% from the previous session’s volume of 209,593 shares.The stock last traded at $22.98 and had previously closed at $19.81.

Wall Street Analyst Weigh In

PSFE has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Susquehanna cut their price target on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, November 14th.

Paysafe Trading Up 0.9 %

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.76. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -61.24, a P/E/G ratio of 0.57 and a beta of 1.89. The business has a fifty day simple moving average of $18.49 and a 200 day simple moving average of $20.28.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Paysafe by 1.5% during the 3rd quarter. State Street Corp now owns 1,427,043 shares of the company’s stock valued at $32,009,000 after acquiring an additional 20,418 shares during the period. Private Management Group Inc. acquired a new position in Paysafe during the fourth quarter worth $8,489,000. Empowered Funds LLC boosted its position in Paysafe by 5.1% during the fourth quarter. Empowered Funds LLC now owns 250,604 shares of the company’s stock worth $4,285,000 after purchasing an additional 12,156 shares in the last quarter. Foundry Partners LLC acquired a new stake in Paysafe in the third quarter valued at $5,450,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Paysafe in the fourth quarter valued at $1,944,000. 54.39% of the stock is currently owned by institutional investors and hedge funds.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.