FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 17,600 shares, a drop of 10.7% from the September 15th total of 19,700 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 38,000 shares, the short-interest ratio is currently 0.5 days.
Analyst Ratings Changes
Separately, HC Wainwright reissued a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a research note on Wednesday, October 2nd.
View Our Latest Report on FlexShopper
FlexShopper Price Performance
FlexShopper (NASDAQ:FPAY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The business had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.00 million. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. Equities research analysts forecast that FlexShopper will post -0.12 earnings per share for the current year.
Insider Buying and Selling at FlexShopper
In other FlexShopper news, Director Howard Dvorkin bought 26,756 shares of FlexShopper stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost 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 in the company, valued at approximately $4,745,410.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 58,148 shares of company stock worth $64,830 in the last three months. 36.70% of the stock is currently owned by company insiders.
Institutional Trading of FlexShopper
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Heron Bay Capital Management bought a new position in shares of FlexShopper during the 1st quarter valued at approximately $43,000. Insigneo Advisory Services LLC bought a new position in FlexShopper during the second quarter valued at $58,000. Finally, Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. 19.41% of the stock is currently 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.
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