FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Up 1,047.6% in October

FlexShopper, Inc. (NASDAQ:FPAY) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 402,800 shares, an increase of 1,047.6% from the October 15th total of 35,100 shares. Approximately 3.5% of the company’s shares are sold short. Based on an average trading volume of 89,000 shares, the days-to-cover ratio is presently 4.5 days.

Institutional Investors Weigh In On FlexShopper

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper during the 2nd quarter valued at $58,000. Renaissance Technologies LLC lifted its holdings in shares of FlexShopper by 30.0% during 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 last quarter. Finally, Heron Bay Capital Management purchased a new position in FlexShopper in the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 19.41% of the company’s stock.

FlexShopper Stock Performance

NASDAQ FPAY traded up $0.06 during trading on Tuesday, hitting $1.27. The company’s stock had a trading volume of 50,312 shares, compared to its average volume of 60,995. The firm has a market cap of $27.25 million, a P/E ratio of -5.26 and a beta of 1.33. 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 firm has a 50 day moving average price of $1.18 and a 200 day moving average price of $1.15. FlexShopper has a 52 week low of $0.94 and a 52 week high of $1.95.

Analysts Set New Price Targets

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

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.