Payoneer Global Inc. (NASDAQ:PAYO) Short Interest Down 17.1% in August

Payoneer Global Inc. (NASDAQ:PAYO) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 10,700,000 shares, a drop of 17.1% from the July 31st total of 12,910,000 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,880,000 shares, the days-to-cover ratio is presently 3.7 days.

Payoneer Global Stock Up 0.5 %

Shares of NASDAQ PAYO opened at $7.43 on Friday. Payoneer Global has a 1 year low of $4.22 and a 1 year high of $7.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $5.50. The company has a market capitalization of $2.77 billion, a P/E ratio of 24.77 and a beta of 0.82.

Payoneer Global (NASDAQ:PAYO) last posted its earnings results on Wednesday, August 7th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Payoneer Global had a net margin of 13.19% and a return on equity of 17.56%. The firm had revenue of $239.50 million during the quarter, compared to the consensus estimate of $223.12 million. During the same quarter last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts predict that Payoneer Global will post 0.23 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup increased their price objective on shares of Payoneer Global from $7.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 12th. Cantor Fitzgerald upgraded shares of Payoneer Global to a “strong-buy” rating in a report on Monday, August 12th. The Goldman Sachs Group raised their price target on shares of Payoneer Global from $6.50 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC raised their price target on shares of Payoneer Global from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Payoneer Global from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Payoneer Global currently has a consensus rating of “Buy” and an average target price of $8.25.

Insider Activity at Payoneer Global

In other Payoneer Global news, Director Scott H. Galit sold 14,073 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.81, for a total value of $81,764.13. Following the completion of the sale, the director now owns 2,422,421 shares in the company, valued at approximately $14,074,266.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Payoneer Global news, Director Scott H. Galit sold 390,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.44, for a total value of $2,121,600.00. Following the completion of the sale, the director now owns 2,122,421 shares in the company, valued at approximately $11,545,970.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott H. Galit sold 14,073 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.81, for a total transaction of $81,764.13. Following the completion of the sale, the director now owns 2,422,421 shares of the company’s stock, valued at approximately $14,074,266.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,904,155 shares of company stock valued at $10,598,009. 5.57% of the stock is owned by corporate insiders.

Institutional Trading of Payoneer Global

Several institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. increased its holdings in Payoneer Global by 12.1% in the 2nd quarter. Xponance Inc. now owns 17,928 shares of the company’s stock valued at $99,000 after purchasing an additional 1,942 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Payoneer Global by 27.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 9,541 shares of the company’s stock valued at $46,000 after purchasing an additional 2,074 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Payoneer Global by 1.8% in the 4th quarter. Yousif Capital Management LLC now owns 129,060 shares of the company’s stock valued at $672,000 after purchasing an additional 2,320 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Payoneer Global by 11.7% in the 2nd quarter. Y.D. More Investments Ltd now owns 22,142 shares of the company’s stock valued at $122,000 after buying an additional 2,328 shares during the period. Finally, Texas Permanent School Fund Corp boosted its position in Payoneer Global by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 227,988 shares of the company’s stock valued at $1,108,000 after buying an additional 2,958 shares during the period. Institutional investors and hedge funds own 82.22% of the company’s stock.

Payoneer Global Company Profile

Payoneer Global Inc operates as a financial technology company. It operates a payment infrastructure platform that provides customers with a one-stop, global, multi-currency account to serve their accounts receivable and accounts payable needs. The company delivers a suite of services that includes cross-border payments, physical and virtual MasterCard cards, working capital, risk management, and other services.