FlexShopper (NASDAQ:FPAY) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

FlexShopper, Inc. (NASDAQ:FPAY)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.53 and traded as low as $1.43. FlexShopper shares last traded at $1.52, with a volume of 50,373 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a report on Tuesday, December 24th.

FlexShopper Price Performance

The company has a market capitalization of $28.54 million, a price-to-earnings ratio of -7.82 and a beta of 1.54. The stock has a fifty day simple moving average of $1.52 and a 200-day simple moving average of $1.47. The company has a debt-to-equity ratio of 19.65, a current ratio of 7.98 and a quick ratio of 7.98.

Insider Buying and Selling at FlexShopper

In other FlexShopper news, CEO Harold Russell Jr. Heiser bought 30,000 shares of FlexShopper stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $1.45 per share, with a total value of $43,500.00. Following the purchase, the chief executive officer now directly owns 969,874 shares in the company, valued at $1,406,317.30. This represents a 3.19 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 30.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Insigneo Advisory Services LLC raised its stake in shares of FlexShopper by 33.3% during the 3rd quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after buying an additional 15,000 shares during the period. Traphagen Investment Advisors LLC acquired a new position in shares of FlexShopper during the 4th quarter worth approximately $30,000. Virtu Financial LLC acquired a new position in shares of FlexShopper during the 4th quarter worth approximately $30,000. Heron Bay Capital Management acquired a new position in FlexShopper in the 4th quarter valued at $56,000. Finally, Citadel Advisors LLC acquired a new position in FlexShopper in the 4th quarter valued at $109,000. 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.