Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Decreases By 16.7%

FlexShopper, Inc. (NASDAQ:FPAY) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 335,600 shares, a decline of 16.7% from the October 31st total of 402,800 shares. Based on an average daily trading volume, of 104,300 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.9% of the shares of the company are sold short.

FlexShopper Stock Performance

FPAY traded up $0.13 during trading hours on Friday, hitting $1.98. The stock had a trading volume of 437,470 shares, compared to its average volume of 66,702. The stock has a market cap of $42.49 million, a PE ratio of -11.65 and a beta of 1.33. FlexShopper has a 1 year low of $0.97 and a 1 year high of $2.17. The company has a quick ratio of 7.98, a current ratio of 7.98 and a debt-to-equity ratio of 19.65. The company’s fifty day simple moving average is $1.35 and its 200 day simple moving average is $1.21.

Hedge Funds Weigh In On FlexShopper

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of FlexShopper by 30.0% in 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. Insigneo Advisory Services LLC purchased a new stake in FlexShopper during the 2nd quarter worth about $58,000. Finally, Waterfall Asset Management LLC bought a new position in FlexShopper in the 3rd quarter worth about $1,678,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FPAY shares. HC Wainwright reissued a “buy” rating and set a $2.50 target price on shares of FlexShopper in a research report on Friday, November 15th. Maxim Group upped their price objective on FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

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.