Flywire (NASDAQ:FLYW) Shares Gap Down – Time to Sell?

Flywire Co. (NASDAQ:FLYW) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.01, but opened at $18.61. Flywire shares last traded at $19.17, with a volume of 74,358 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. Morgan Stanley boosted their target price on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. The Goldman Sachs Group boosted their target price on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Raymond James boosted their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.29.

Flywire Price Performance

The stock has a market capitalization of $2.33 billion, a P/E ratio of 124.93, a PEG ratio of 3.03 and a beta of 1.10. The stock’s fifty day moving average is $20.91 and its 200-day moving average is $18.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in Flywire during the 2nd quarter worth $26,000. Headlands Technologies LLC lifted its stake in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after buying an additional 1,509 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Flywire in the second quarter valued at about $64,000. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Flywire in the third quarter valued at about $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.