Payfare (TSE:PAY) Trading Up 0.7% – Here’s Why

Shares of Payfare Inc. (TSE:PAY) traded up 0.7% during mid-day trading on Friday . The company traded as high as C$2.28 and last traded at C$2.25. 145,813 shares changed hands during trading, a decline of 43% from the average session volume of 255,970 shares. The stock had previously closed at C$2.24.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PAY shares. B. Riley downgraded Payfare from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Cantor Fitzgerald upgraded Payfare to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Raymond James downgraded shares of Payfare from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from C$12.00 to C$3.00 in a report on Monday, September 30th.

Payfare Stock Performance

The business has a 50 day moving average of C$2.11 and a 200-day moving average of C$5.19. The company has a market capitalization of C$107.96 million, a P/E ratio of 5.63 and a beta of 1.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.32 and a current ratio of 1.22.

About Payfare

Payfare Inc, a financial technology company, provides instant payout and digital banking solutions to gig economy workers in Canada, the United States, and Mexico. The company offers PayFare, a platform that provides access to earnings, as well as banking services, such as ATM withdrawals, funds transfers, bill payments, and savings wallets; Paid Portal by Payfare, a payout solution for gig workforces; and Paid App by Payfare, a digital banking app.