FlexShopper, Inc. (NASDAQ:FPAY) Sees Large Increase in Short Interest

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 10,300 shares, a growth of 77.6% from the June 30th total of 5,800 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 41,900 shares, the days-to-cover ratio is presently 0.2 days.

FlexShopper Stock Performance

Shares of NASDAQ:FPAY traded up $0.02 on Friday, hitting $1.08. 7,542 shares of the company’s stock were exchanged, compared to its average volume of 51,663. The firm’s 50-day moving average is $1.18 and its 200 day moving average is $1.21. FlexShopper has a 1-year low of $0.75 and a 1-year high of $2.47. The company has a current ratio of 13.70, a quick ratio of 13.70 and a debt-to-equity ratio of 19.16.

FlexShopper (NASDAQ:FPAY) last released its quarterly earnings data on Monday, May 13th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. FlexShopper had a negative return on equity of 58.72% and a negative net margin of 3.51%. The business had revenue of $33.95 million during the quarter, compared to analysts’ expectations of $29.30 million. On average, equities research analysts forecast that FlexShopper will post -0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $2.50 price target on shares of FlexShopper in a report on Wednesday, May 15th.

Insider Activity at FlexShopper

In other news, Director Howard Dvorkin acquired 64,054 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $1.12 per share, for a total transaction of $71,740.48. Following the acquisition, the director now owns 4,390,299 shares of the company’s stock, valued at $4,917,134.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 211,386 shares of company stock worth $240,518. 36.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FlexShopper stock. Heron Bay Capital Management bought a new stake in FlexShopper, Inc. (NASDAQ:FPAY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,544 shares of the financial services provider’s stock, valued at approximately $43,000. Heron Bay Capital Management owned about 0.13% of FlexShopper at the end of the most recent quarter. 19.41% of the stock is owned by institutional investors and hedge funds.

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.