FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Up 1,047.6% in October

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 402,800 shares, an increase of 1,047.6% from the October 15th total of 35,100 shares. Based on an average daily trading volume, of 89,000 shares, the days-to-cover ratio is currently 4.5 days. Approximately 3.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On FlexShopper

A number of institutional investors and hedge funds have recently modified their holdings of FPAY. Insigneo Advisory Services LLC acquired a new position in shares of FlexShopper in the 2nd quarter worth $58,000. Renaissance Technologies LLC increased its stake in FlexShopper by 30.0% in the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 50,847 shares in the last quarter. Waterfall Asset Management LLC acquired a new stake in FlexShopper during the 3rd quarter worth about $1,678,000. Finally, Heron Bay Capital Management acquired a new position in shares of FlexShopper in the first quarter worth about $43,000. Institutional investors and hedge funds own 19.41% of the company’s stock.

FlexShopper Price Performance

FPAY stock traded up $0.17 on Thursday, hitting $1.45. 167,054 shares of the company’s stock traded hands, compared to its average volume of 61,460. The stock has a market cap of $31.12 million, a price-to-earnings ratio of -6.35 and a beta of 1.33. FlexShopper has a 1-year low of $0.94 and a 1-year high of $1.95. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. The stock has a fifty day moving average of $1.19 and a 200-day moving average of $1.16.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $2.50 target price on shares of FlexShopper in a report on Wednesday, October 2nd.

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.