ValuEngine Lowers FlexShopper (NASDAQ:FPAY) to Strong Sell

ValuEngine downgraded shares of FlexShopper (NASDAQ:FPAY) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday, ValuEngine reports.

Shares of NASDAQ FPAY traded down $0.01 during mid-day trading on Wednesday, hitting $1.52. The stock had a trading volume of 17,596 shares, compared to its average volume of 95,733. The company has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.23. FlexShopper has a twelve month low of $0.66 and a twelve month high of $2.10.

FlexShopper (NASDAQ:FPAY) last released its earnings results on Monday, August 12th. The financial services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The firm had revenue of $20.66 million during the quarter.

In other news, Director Howard Dvorkin bought 19,238 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $1.62 per share, with a total value of $31,165.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 28.20% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in FlexShopper stock. Vanguard Group Inc. boosted its stake in shares of FlexShopper Inc (NASDAQ:FPAY) by 4.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 251,774 shares of the financial services provider’s stock after purchasing an additional 11,300 shares during the period. Vanguard Group Inc. owned approximately 1.43% of FlexShopper worth $277,000 at the end of the most recent quarter. Institutional investors own 9.23% of the company’s stock.

About FlexShopper

FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC operates as an online lease-to-own (LTO) retailer and LTO payment solution provider. The company provides residential furniture, consumer electronics, computers, appliances, household accessories, and various other durable goods to consumers on a LTO basis to consumers of third-party retailers and e-tailers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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