FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Update

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 17,600 shares, a decline of 10.7% from the September 15th total of 19,700 shares. Based on an average daily volume of 38,000 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the company’s shares are sold short.

FlexShopper Trading Down 2.8 %

Shares of FlexShopper stock traded down $0.03 on Thursday, hitting $1.22. 109,491 shares of the company traded hands, compared to its average volume of 49,566. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. The company has a market cap of $26.54 million, a PE ratio of -3.81 and a beta of 1.35. The stock’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.14. FlexShopper has a 52 week low of $0.94 and a 52 week high of $1.95.

FlexShopper (NASDAQ:FPAY) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. The business had revenue of $31.76 million during the quarter, compared to analyst estimates of $31.00 million. Equities research analysts predict that FlexShopper will post -0.12 EPS for the current year.

Insider Transactions at FlexShopper

In other news, Director Howard Dvorkin acquired 26,756 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $1.06 per share, with a total value of $28,361.36. Following the completion of the purchase, the director now directly owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 58,148 shares of company stock worth $64,830. 36.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heron Bay Capital Management purchased a new stake in FlexShopper during the first quarter worth $43,000. Insigneo Advisory Services LLC bought a new position in shares of FlexShopper in the 2nd quarter worth $58,000. Finally, Renaissance Technologies LLC lifted its stake in shares of FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 50,847 shares during the last quarter. 19.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and set a $2.50 price target on shares of FlexShopper in a research note on Wednesday, October 2nd.

FlexShopper Company Profile

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.