FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Update

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 17,600 shares, a decline of 10.7% from the September 15th total of 19,700 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 38,000 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

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

FlexShopper Stock Performance

Shares of FlexShopper stock traded down $0.03 on Thursday, hitting $1.22. The stock had a trading volume of 109,491 shares, compared to its average volume of 49,566. FlexShopper has a 52-week low of $0.94 and a 52-week high of $1.95. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. The stock has a market cap of $26.54 million, a price-to-earnings ratio of -3.81 and a beta of 1.35. The company’s 50 day moving average price is $1.11 and its 200 day moving average price is $1.14.

FlexShopper (NASDAQ:FPAY) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. The firm had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.00 million. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. On average, research analysts anticipate that FlexShopper will post -0.12 EPS for the current year.

Insider Activity

In related news, Director Howard Dvorkin bought 26,756 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $1.06 per share, with a total value of $28,361.36. Following the purchase, the director now directly owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders bought 58,148 shares of company stock valued at $64,830. 36.70% of the stock is currently owned by corporate insiders.

Institutional Trading of FlexShopper

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its stake in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after buying an additional 50,847 shares during the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper in the 2nd quarter worth about $58,000. Finally, Heron Bay Capital Management purchased a new stake in shares of FlexShopper in the 1st quarter worth about $43,000. 19.41% of the stock is owned by hedge funds and other institutional investors.

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.