FlexShopper (NASDAQ:FPAY) Price Target Raised to $4.00 at Maxim Group

FlexShopper (NASDAQ:FPAY) had its target price hoisted by Maxim Group from $2.00 to $4.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $2.50 price target on shares of FlexShopper in a report on Friday.

FlexShopper Stock Up 5.2 %

NASDAQ FPAY traded up $0.07 on Friday, hitting $1.53. 153,594 shares of the company were exchanged, compared to its average volume of 63,679. 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 company has a market cap of $32.73 million, a PE ratio of -6.63 and a beta of 1.33. The stock has a fifty day moving average of $1.21 and a 200-day moving average of $1.16. FlexShopper has a 12 month low of $0.97 and a 12 month high of $1.95.

Hedge Funds Weigh In On FlexShopper

Several large investors have recently added to or reduced their stakes in the business. Waterfall Asset Management LLC bought a new stake in shares of FlexShopper in the 3rd quarter worth $1,678,000. Renaissance Technologies LLC grew its holdings in shares of FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 50,847 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in FlexShopper by 33.3% during the third quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 15,000 shares during the period. Finally, Heron Bay Capital Management bought a new position in FlexShopper in the 1st quarter valued at $43,000. Institutional investors own 19.41% of the company’s stock.

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.