FlexShopper (NASDAQ:FPAY) Receives “Buy” Rating from HC Wainwright

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $2.50 price target on the financial services provider’s stock. HC Wainwright’s price target would indicate a potential upside of 63.93% from the company’s current price. HC Wainwright also issued estimates for FlexShopper’s Q4 2024 earnings at $0.02 EPS.

FlexShopper Stock Up 5.2 %

Shares of NASDAQ FPAY opened at $1.53 on Friday. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. The company has a market cap of $32.73 million, a P/E ratio of -6.63 and a beta of 1.33. FlexShopper has a 52 week low of $0.97 and a 52 week high of $1.95. The business has a 50-day simple moving average of $1.21 and a two-hundred day simple moving average of $1.16.

Institutional Trading of FlexShopper

Institutional investors and hedge funds have recently bought and sold shares of the company. Heron Bay Capital Management purchased a new position in shares of FlexShopper during the 1st quarter valued at $43,000. Insigneo Advisory Services LLC bought a new stake in FlexShopper during the second quarter valued at $58,000. Renaissance Technologies LLC grew its position in FlexShopper by 30.0% during the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after buying an additional 50,847 shares in the last quarter. Finally, Waterfall Asset Management LLC bought a new position in FlexShopper in the 3rd quarter worth about $1,678,000. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

FlexShopper Company Profile

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.