FlexShopper, Inc. (NASDAQ:FPAY) Sees Large Growth in Short Interest

FlexShopper, Inc. (NASDAQ:FPAY) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 28,800 shares, an increase of 203.2% from the August 15th total of 9,500 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 28,700 shares, the days-to-cover ratio is presently 1.0 days.

FlexShopper Price Performance

NASDAQ:FPAY traded up $0.01 on Friday, reaching $1.03. 82,188 shares of the company’s stock traded hands, compared to its average volume of 48,570. The stock has a 50-day simple moving average of $1.10 and a 200-day simple moving average of $1.15. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95. The firm has a market cap of $22.14 million, a PE ratio of -3.20 and a beta of 1.35. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90.

FlexShopper (NASDAQ:FPAY) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. The company had revenue of $31.76 million for the quarter, compared to the consensus estimate of $31.00 million. Equities research analysts forecast that FlexShopper will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Howard Dvorkin purchased 26,756 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $1.06 per share, with a total value of $28,361.36. Following the completion of the acquisition, the director now owns 4,476,802 shares of the company’s stock, valued at approximately $4,745,410.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have purchased 80,059 shares of company stock valued at $91,773. 36.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On FlexShopper

Several hedge funds have recently modified their holdings of FPAY. Insigneo Advisory Services LLC purchased a new position in shares of FlexShopper during the second quarter valued at about $58,000. Renaissance Technologies LLC grew 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 valued at $282,000 after buying an additional 50,847 shares in the last quarter. Heron Bay Capital Management bought a new stake in FlexShopper in the 1st quarter worth approximately $43,000. Finally, Waterfall Asset Management LLC bought a new position in shares of FlexShopper during the 4th quarter valued at approximately $2,721,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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.