Flywire (NASDAQ:FLYW) Stock Price Down 5.5% – Time to Sell?

Flywire Co. (NASDAQ:FLYW) shares dropped 5.5% during trading on Monday . The stock traded as low as $19.18 and last traded at $19.32. Approximately 119,383 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 471,959 shares. The stock had previously closed at $20.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FLYW shares. The Goldman Sachs Group lifted their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Morgan Stanley raised their target price on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.29.

Flywire Stock Performance

The stock has a 50 day moving average of $20.83 and a two-hundred day moving average of $18.50. The firm has a market capitalization of $2.33 billion, a P/E ratio of 124.80, a P/E/G ratio of 3.03 and a beta of 1.08.

Institutional Trading of Flywire

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP bought a new position in Flywire in the 2nd quarter worth $26,000. Headlands Technologies LLC increased its stake in shares of Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after purchasing an additional 1,509 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Flywire during the 2nd quarter worth about $64,000. Advisors Asset Management Inc. boosted its stake in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Flywire in the 3rd quarter valued at approximately $149,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.