Paysign, Inc. (NASDAQ:PAYS) Sees Large Growth in Short Interest

Paysign, Inc. (NASDAQ:PAYS) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 462,000 shares, a growth of 24.1% from the December 31st total of 372,400 shares. Based on an average daily volume of 227,400 shares, the short-interest ratio is presently 2.0 days. Currently, 1.4% of the shares of the company are short sold.

Insider Buying and Selling at Paysign

In other news, CEO Mark Newcomer sold 12,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $2.85, for a total value of $34,200.00. Following the completion of the transaction, the chief executive officer now directly owns 9,036,886 shares in the company, valued at approximately $25,755,125.10. This represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Topline Capital Management, Ll sold 231,187 shares of Paysign stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $3.31, for a total value of $765,228.97. Following the sale, the insider now directly owns 5,859,046 shares in the company, valued at $19,393,442.26. The trade was a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 958,447 shares of company stock valued at $3,046,524 in the last quarter. Company insiders own 23.40% of the company’s stock.

Institutional Investors Weigh In On Paysign

Several institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. bought a new position in shares of Paysign in the 2nd quarter worth $92,000. Dimensional Fund Advisors LP raised its stake in shares of Paysign by 51.5% in the second quarter. Dimensional Fund Advisors LP now owns 116,779 shares of the company’s stock worth $502,000 after purchasing an additional 39,710 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Paysign during the second quarter valued at $66,000. Algert Global LLC purchased a new stake in Paysign in the second quarter worth about $46,000. Finally, Sanctuary Advisors LLC bought a new position in Paysign in the 2nd quarter worth $512,000. Hedge funds and other institutional investors own 25.89% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYS has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $7.00 price target on shares of Paysign in a research note on Monday, November 4th. Lake Street Capital started coverage on Paysign in a research note on Friday, December 20th. They issued a “buy” rating and a $6.00 target price for the company.

Paysign Trading Down 4.5 %

Shares of PAYS stock traded down $0.12 during trading on Monday, hitting $2.54. The company’s stock had a trading volume of 312,004 shares, compared to its average volume of 283,510. The company has a market cap of $136.01 million, a PE ratio of 16.93 and a beta of 0.95. Paysign has a 52 week low of $2.46 and a 52 week high of $5.59. The business has a fifty day moving average of $3.07 and a 200-day moving average of $3.83.

Paysign (NASDAQ:PAYS) last released its earnings results on Tuesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. Paysign had a return on equity of 30.64% and a net margin of 14.28%. The business had revenue of $15.26 million during the quarter, compared to the consensus estimate of $14.96 million. During the same period last year, the business posted $0.02 earnings per share. As a group, research analysts predict that Paysign will post 0.21 EPS for the current year.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.