Flywire (NASDAQ:FLYW) Shares Gap Down – Time to Sell?

Flywire Co. (NASDAQ:FLYW) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.01, but opened at $18.61. Flywire shares last traded at $19.17, with a volume of 74,358 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Morgan Stanley raised their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Raymond James raised their price objective on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.29.

Flywire Stock Performance

The firm has a market capitalization of $2.33 billion, a P/E ratio of 124.93, a PEG ratio of 3.03 and a beta of 1.10. The firm’s 50-day moving average is $20.91 and its 200 day moving average is $18.57.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Quarry LP bought a new stake in Flywire during the 2nd quarter worth about $26,000. Headlands Technologies LLC grew its stake in Flywire by 82.3% in the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after buying an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Flywire in the 2nd quarter valued at about $64,000. Advisors Asset Management Inc. grew its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Flywire in the 3rd quarter valued at about $149,000. 95.90% of the stock is owned by institutional investors.

About Flywire

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.