Paysafe (NYSE:PSFE) Sees Unusually-High Trading Volume – Still a Buy?

Paysafe Limited (NYSE:PSFE) saw unusually-strong trading volume on Thursday . Approximately 901,896 shares were traded during mid-day trading, an increase of 156% from the previous session’s volume of 352,756 shares.The stock last traded at $17.60 and had previously closed at $16.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a research note on Wednesday, August 14th. Royal Bank of Canada dropped their target price on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Bank of America raised their price objective on shares of Paysafe from $16.20 to $19.00 and gave the stock an “underperform” rating in a report on Tuesday, August 27th. Finally, Susquehanna lowered their target price on Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.00.

Paysafe Stock Up 3.0 %

The firm has a 50-day moving average price of $21.75 and a 200-day moving average price of $20.09. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.14 and a quick ratio of 1.14.

Hedge Funds Weigh In On Paysafe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC raised its position in Paysafe by 596.7% in the 2nd quarter. CWM LLC now owns 1,470 shares of the company’s stock worth $26,000 after buying an additional 1,259 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Paysafe by 2,613.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,089 shares of the company’s stock worth $37,000 after purchasing an additional 2,012 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Paysafe in the 3rd quarter worth approximately $176,000. State of New Jersey Common Pension Fund D bought a new stake in Paysafe in the 2nd quarter worth approximately $222,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Paysafe during the 3rd quarter valued at $225,000. 54.39% of the stock is owned by institutional investors.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.