FlexShopper (NASDAQ:FPAY) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of FlexShopper (NASDAQ:FPAY) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $2.50 price objective on the financial services provider’s stock. HC Wainwright also issued estimates for FlexShopper’s Q4 2024 earnings at $0.02 EPS.

FlexShopper Price Performance

Shares of FPAY traded up $0.07 during midday trading on Friday, hitting $1.53. 153,594 shares of the company traded hands, compared to its average volume of 63,679. The firm has a 50 day moving average of $1.21 and a 200-day moving average of $1.16. The company has a debt-to-equity ratio of 28.90, a quick ratio of 15.78 and a current ratio of 15.78. The stock has a market cap of $32.73 million, a price-to-earnings ratio of -6.63 and a beta of 1.33. FlexShopper has a 52 week low of $0.97 and a 52 week high of $1.95.

Institutional Trading of FlexShopper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FPAY. Waterfall Asset Management LLC purchased a new stake in FlexShopper in the 3rd quarter worth about $1,678,000. Renaissance Technologies LLC boosted its stake in shares of FlexShopper by 30.0% during the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares in the last quarter. Insigneo Advisory Services LLC bought a new position in shares of FlexShopper during the second quarter valued at approximately $58,000. Finally, Heron Bay Capital Management bought a new position in shares of FlexShopper during the first quarter valued at approximately $43,000. 19.41% of the stock is owned by hedge funds and other institutional investors.

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.