FlexShopper (NASDAQ:FPAY) Rating Reiterated by Maxim Group

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating restated by research analysts at Maxim Group in a research note issued on Friday, AnalystRatings.com reports. They presently have a $3.50 target price on the financial services provider’s stock. Maxim Group’s price target indicates a potential upside of 138.10% from the company’s current price.

Several other brokerages have also weighed in on FPAY. ValuEngine raised shares of FlexShopper from a “sell” rating to a “hold” rating in a research report on Monday, July 13th. Ascendiant Capital Markets reiterated an “average” rating and issued a $5.00 price target on shares of FlexShopper in a report on Monday, June 1st.

Shares of FPAY opened at $1.47 on Friday. The firm has a market cap of $31.39 million, a PE ratio of -9.19 and a beta of 0.93. FlexShopper has a 52-week low of $0.95 and a 52-week high of $3.22. The business’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.77.

FlexShopper (NASDAQ:FPAY) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $24.84 million during the quarter. FlexShopper had a net margin of 0.14% and a negative return on equity of 0.98%.

In other news, President Brad Mitchell Bernstein sold 88,130 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $1.66, for a total value of $146,295.80. Also, Director Howard Dvorkin acquired 202,720 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $1.25 per share, with a total value of $253,400.00. Insiders acquired 324,991 shares of company stock worth $448,694 over the last ninety days. Insiders own 37.40% of the company’s stock.

Large investors have recently modified their holdings of the business. GWM Advisors LLC bought a new position in shares of FlexShopper in the first quarter valued at approximately $26,000. James Investment Research Inc. bought a new position in FlexShopper in the 1st quarter valued at $26,000. Perkins Capital Management Inc. grew its stake in FlexShopper by 9.1% in the 1st quarter. Perkins Capital Management Inc. now owns 1,234,950 shares of the financial services provider’s stock valued at $1,568,000 after purchasing an additional 102,550 shares during the period. Renaissance Technologies LLC increased its position in shares of FlexShopper by 59.8% during the 4th quarter. Renaissance Technologies LLC now owns 450,595 shares of the financial services provider’s stock valued at $1,140,000 after purchasing an additional 168,593 shares during the last quarter. Finally, EAM Investors LLC raised its stake in shares of FlexShopper by 61.7% during the 1st quarter. EAM Investors LLC now owns 359,859 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 137,362 shares during the period. Institutional investors and hedge funds own 20.33% 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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