Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Declines By 88.4%

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a large drop in short interest in January. As of January 15th, there was short interest totalling 50,900 shares, a drop of 88.4% from the December 31st total of 437,900 shares. Based on an average daily trading volume, of 226,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FPAY shares. Maxim Group lifted their price objective on FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a report on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a research note on Tuesday, December 24th.

FlexShopper Trading Up 5.2 %

Shares of FlexShopper stock traded up $0.07 during trading on Wednesday, reaching $1.41. 130,776 shares of the stock were exchanged, compared to its average volume of 455,081. The company has a quick ratio of 7.98, a current ratio of 7.98 and a debt-to-equity ratio of 19.65. The firm has a market cap of $30.26 million, a price-to-earnings ratio of -8.29 and a beta of 1.43. FlexShopper has a 1 year low of $0.97 and a 1 year high of $2.37. The stock’s fifty day moving average is $1.74 and its 200 day moving average is $1.37.

Insider Activity

In other news, CEO Harold Russell Jr. Heiser acquired 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $1.45 per share, with a total value of $43,500.00. Following the acquisition, the chief executive officer now owns 969,874 shares in the company, valued at approximately $1,406,317.30. This represents a 3.19 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 30.20% of the company’s stock.

Institutional Investors Weigh In On FlexShopper

Hedge funds have recently added to or reduced their stakes in the stock. Traphagen Investment Advisors LLC bought a new stake in shares of FlexShopper during the fourth quarter valued at approximately $30,000. Insigneo Advisory Services LLC raised its stake in shares of FlexShopper by 33.3% in the third quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 15,000 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of FlexShopper during the fourth quarter valued at $163,000. Renaissance Technologies LLC boosted its position 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 buying an additional 50,847 shares during the last quarter. Finally, Waterfall Asset Management LLC bought a new stake in FlexShopper in the 3rd quarter worth about $1,678,000. 19.41% of the stock is owned by 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.