Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Increases By 6.4%

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 437,900 shares, an increase of 6.4% from the November 30th total of 411,400 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average daily volume of 144,600 shares, the short-interest ratio is presently 3.0 days.

Insider Transactions at FlexShopper

In other news, CEO Harold Russell Jr. Heiser purchased 30,000 shares of FlexShopper stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $1.45 per share, with a total value of $43,500.00. Following the completion of the purchase, the chief executive officer now directly owns 969,874 shares in the company, valued at approximately $1,406,317.30. This trade represents a 3.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 30.20% of the company’s stock.

Hedge Funds Weigh In On FlexShopper

Several institutional investors and hedge funds have recently modified their holdings of the stock. Insigneo Advisory Services LLC boosted its stake in 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. Renaissance Technologies LLC increased its stake in FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares in the last quarter. Finally, Waterfall Asset Management LLC purchased a new position in FlexShopper in the third quarter worth about $1,678,000. 19.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FPAY shares. Maxim Group upped their target price on shares of FlexShopper from $2.00 to $4.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a report on Tuesday, December 24th.

FlexShopper Stock Up 6.2 %

FPAY stock opened at $1.71 on Thursday. The business has a 50 day moving average of $1.61 and a 200 day moving average of $1.31. The firm has a market cap of $36.70 million, a PE ratio of -10.06 and a beta of 1.43. FlexShopper has a twelve month low of $0.97 and a twelve month high of $2.19. The company has a quick ratio of 7.98, a current ratio of 7.98 and a debt-to-equity ratio of 19.65.

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.