FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Down 88.4% in January

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 50,900 shares, a drop of 88.4% from the December 31st total of 437,900 shares. Based on an average daily trading volume, of 226,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, CEO Harold Russell Jr. Heiser purchased 30,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $1.45 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 969,874 shares of the company’s stock, valued at approximately $1,406,317.30. The trade was a 3.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 30.20% of the company’s stock.

Institutional Trading of FlexShopper

Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position 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 purchasing an additional 50,847 shares in the last quarter. Waterfall Asset Management LLC purchased a new stake in FlexShopper during the 3rd quarter valued at $1,678,000. Insigneo Advisory Services LLC increased its stake in shares of 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 purchasing an additional 15,000 shares in the last quarter. Traphagen Investment Advisors LLC purchased a new stake in shares of FlexShopper in the 4th quarter worth $30,000. Finally, Perigon Wealth Management LLC purchased a new stake in shares of FlexShopper in the 4th quarter worth $163,000. 19.41% of the stock is owned by institutional investors.

FlexShopper Stock Down 0.7 %

FlexShopper stock traded down $0.01 during trading hours on Tuesday, hitting $1.34. 153,449 shares of the stock traded hands, compared to its average volume of 474,154. The firm’s 50-day moving average price is $1.74 and its two-hundred day moving average price is $1.37. The company has a current ratio of 7.98, a quick ratio of 7.98 and a debt-to-equity ratio of 19.65. The company has a market cap of $28.76 million, a PE ratio of -7.88 and a beta of 1.43. FlexShopper has a one year low of $0.97 and a one year high of $2.37.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FPAY shares. HC Wainwright reissued a “buy” rating and set a $2.50 price objective on shares of FlexShopper in a research note on Tuesday, December 24th. Maxim Group boosted their price target on FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a report on Friday, November 15th.

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.