Flywire (NASDAQ:FLYW) Trading Down 5.5% – What’s Next?

Flywire Co. (NASDAQ:FLYW)’s share price fell 5.5% during trading on Monday . The company traded as low as $19.18 and last traded at $19.32. 119,383 shares were traded during mid-day trading, a decline of 75% from the average session volume of 471,959 shares. The stock had previously closed at $20.45.

Analysts Set New Price Targets

A number of brokerages recently commented on FLYW. B. Riley reaffirmed a “buy” rating and issued a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. Raymond James raised their price target on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Trading Down 4.1 %

The company has a 50-day moving average of $20.75 and a 200-day moving average of $18.46. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 130.80, a price-to-earnings-growth ratio of 3.10 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLYW. Quarry LP acquired a new position in shares of Flywire in the 2nd quarter valued at $26,000. Headlands Technologies LLC raised its position in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after acquiring an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Flywire in the second quarter worth about $64,000. Advisors Asset Management Inc. raised its position in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire in the third quarter worth about $149,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.