PaySign, Inc. (NASDAQ:PAYS) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 10,140,000 shares, an increase of 7.3% from the January 15th total of 9,450,000 shares. Currently, 38.0% of the shares of the company are sold short. Based on an average daily volume of 776,300 shares, the days-to-cover ratio is presently 13.1 days.
Institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY bought a new stake in PaySign in the 3rd quarter valued at $77,000. California State Teachers Retirement System increased its holdings in PaySign by 3.8% in the 3rd quarter. California State Teachers Retirement System now owns 47,606 shares of the company’s stock valued at $481,000 after buying an additional 1,759 shares during the period. Morgan Stanley bought a new stake in PaySign in the 2nd quarter valued at $2,823,000. California Public Employees Retirement System increased its holdings in PaySign by 7.3% in the 3rd quarter. California Public Employees Retirement System now owns 206,847 shares of the company’s stock valued at $2,089,000 after buying an additional 14,000 shares during the period. Finally, Cavalier Investments LLC bought a new stake in PaySign in the 3rd quarter valued at $563,000. 30.78% of the stock is currently owned by hedge funds and other institutional investors.
PaySign stock traded down $0.11 on Friday, hitting $9.34. The company’s stock had a trading volume of 204,900 shares, compared to its average volume of 489,406. The firm has a market cap of $452.88 million, a P/E ratio of 84.92 and a beta of 0.66. The company has a fifty day moving average price of $9.39 and a 200-day moving average price of $10.92. PaySign has a one year low of $6.76 and a one year high of $18.67.
PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.
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