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

FlexShopper, Inc. (NASDAQ:FPAY) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 335,600 shares, a drop of 16.7% from the October 31st total of 402,800 shares. Based on an average trading volume of 104,300 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.9% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages recently commented on FPAY. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 target price on shares of FlexShopper in a research report on Friday, November 15th. Maxim Group raised their price objective on shares of FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

FlexShopper Price Performance

Shares of FlexShopper stock traded up $0.13 during midday trading on Friday, hitting $1.98. 437,470 shares of the company were exchanged, compared to its average volume of 66,702. FlexShopper has a 52 week low of $0.97 and a 52 week high of $2.17. The firm has a market cap of $42.49 million, a P/E ratio of -11.65 and a beta of 1.33. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98. The firm has a 50 day simple moving average of $1.35 and a 200-day simple moving average of $1.21.

Institutional Trading of FlexShopper

Several institutional investors and hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC purchased a new position in shares of FlexShopper during the second quarter valued at approximately $58,000. Renaissance Technologies LLC boosted its holdings in 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 acquiring an additional 50,847 shares during the last quarter. Finally, Waterfall Asset Management LLC purchased a new position in FlexShopper during the 3rd quarter worth $1,678,000. 19.41% of the stock is owned by hedge funds and other institutional investors.

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.