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

HC Wainwright restated their buy rating on shares of FlexShopper (NASDAQ:FPAY) in a research report report published on Friday morning,Benzinga reports. They currently have 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 Stock Up 5.2 %

Shares of FPAY traded up $0.07 during trading hours on Friday, hitting $1.53. The company had a trading volume of 153,594 shares, compared to its average volume of 63,679. 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 capitalization 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. The firm has a fifty day moving average price of $1.21 and a 200-day moving average price of $1.16.

Hedge Funds Weigh In On FlexShopper

A number of hedge funds have recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC raised its holdings in FlexShopper by 33.3% in the 3rd quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 15,000 shares during the last quarter. Heron Bay Capital Management bought a new position in FlexShopper in the 1st quarter worth $43,000. Renaissance Technologies LLC boosted its holdings in FlexShopper by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after buying an additional 50,847 shares during the period. Finally, Waterfall Asset Management LLC bought a new position in FlexShopper in the 3rd quarter worth $1,678,000. 19.41% of the stock is currently 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.