FlexShopper (NASDAQ:FPAY) Earns Buy Rating from HC Wainwright

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $2.50 price target on the financial services provider’s stock. HC Wainwright’s price objective points to a potential upside of 125.23% from the company’s current price.

FlexShopper Stock Performance

Shares of FPAY stock opened at $1.11 on Wednesday. The company has a debt-to-equity ratio of 28.90, a current ratio of 15.78 and a quick ratio of 15.78. The company’s fifty day moving average price is $1.07 and its two-hundred day moving average price is $1.14. The firm has a market capitalization of $24.14 million, a P/E ratio of -3.47 and a beta of 1.35. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95.

FlexShopper (NASDAQ:FPAY) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. The firm had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.00 million. On average, research analysts anticipate that FlexShopper will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Howard Dvorkin purchased 26,756 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $1.06 per share, for a total transaction of $28,361.36. Following the completion of the purchase, the director now owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 58,148 shares of company stock valued at $64,830 in the last ninety days. Corporate insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FPAY. Insigneo Advisory Services LLC acquired a new position in FlexShopper in the 2nd quarter worth approximately $58,000. Renaissance Technologies LLC grew its stake 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 valued at $282,000 after buying an additional 50,847 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new position in shares of FlexShopper during the 1st quarter worth $43,000. 19.41% of the stock is currently owned by institutional investors.

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.