HC Wainwright Reiterates “Buy” Rating for FlexShopper (NASDAQ:FPAY)

HC Wainwright restated their buy rating on shares of FlexShopper (NASDAQ:FPAY) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $2.50 price target on the financial services provider’s stock.

FlexShopper Price Performance

Shares of FlexShopper stock opened at $1.28 on Wednesday. The company has a market capitalization of $27.84 million, a price-to-earnings ratio of -4.00 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 stock’s 50-day simple moving average is $1.08 and its 200-day simple moving average is $1.14. FlexShopper has a 52 week low of $0.94 and a 52 week high of $1.95.

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

Insider Activity at FlexShopper

In related news, Director Howard Dvorkin purchased 26,756 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $1.06 per share, for a total transaction of $28,361.36. Following the purchase, the director now directly owns 4,476,802 shares in the company, valued at $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 through this link. Over the last ninety days, insiders purchased 58,148 shares of company stock valued at $64,830. Corporate insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On FlexShopper

Institutional investors have recently bought and sold shares of the business. Heron Bay Capital Management bought a new stake in shares of FlexShopper in the 1st quarter worth about $43,000. Insigneo Advisory Services LLC purchased a new position in FlexShopper in the second quarter worth about $58,000. Finally, Renaissance Technologies LLC increased 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 last quarter. 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.