FlexShopper, Inc. (NASDAQ:FPAY) Sees Significant Decrease in Short Interest

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 50,900 shares, a decline of 88.4% from the December 15th total of 437,900 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 226,500 shares, the days-to-cover ratio is currently 0.2 days.

FlexShopper Trading Down 10.5 %

Shares of NASDAQ FPAY traded down $0.20 during midday trading on Monday, hitting $1.70. The stock had a trading volume of 497,180 shares, compared to its average volume of 839,252. The firm has a market cap of $36.48 million, a P/E ratio of -10.00 and a beta of 1.43. FlexShopper has a fifty-two week low of $0.97 and a fifty-two week high of $2.37. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98. The company’s 50-day simple moving average is $1.69 and its 200 day simple moving average is $1.34.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FPAY. Maxim Group lifted their price target on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of FlexShopper in a report on Tuesday, December 24th.

Insider Transactions at FlexShopper

In other FlexShopper news, CEO Harold Russell Jr. Heiser bought 30,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $1.45 per share, for a total transaction of $43,500.00. Following the transaction, the chief executive officer now directly owns 969,874 shares in the company, valued at $1,406,317.30. The trade was a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 30.20% of the company’s stock.

Hedge Funds Weigh In On FlexShopper

A number of hedge funds and other institutional investors have recently made changes to their positions in FPAY. Waterfall Asset Management LLC bought a new position in FlexShopper in the third quarter valued at approximately $1,678,000. Renaissance Technologies LLC lifted its position 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 purchasing an additional 50,847 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in FlexShopper by 33.3% during the third quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 15,000 shares during the last quarter. 19.41% of the stock is owned by institutional investors.

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.