Paysafe (NYSE:PSFE) Sees Large Volume Increase – Here’s What Happened

Paysafe Limited (NYSE:PSFE) shares saw unusually-strong trading volume on Thursday . Approximately 353,137 shares changed hands during trading, an increase of 68% from the previous session’s volume of 209,593 shares.The stock last traded at $22.98 and had previously closed at $19.81.

Analysts Set New Price Targets

Several analysts have issued reports on PSFE shares. Royal Bank of Canada cut their price objective on Paysafe from $25.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Susquehanna cut their target price on Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th.

Paysafe Trading Up 17.7 %

The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $1.42 billion, a P/E ratio of -61.38, a price-to-earnings-growth ratio of 0.48 and a beta of 1.89. The business has a 50 day simple moving average of $18.35 and a 200-day simple moving average of $20.24.

Hedge Funds Weigh In On Paysafe

A number of hedge funds have recently modified their holdings of PSFE. Private Management Group Inc. purchased a new position in Paysafe during the 4th quarter worth approximately $8,489,000. Foundry Partners LLC purchased a new stake in Paysafe in the 3rd quarter worth about $5,450,000. Public Employees Retirement System of Ohio acquired a new stake in Paysafe during the 3rd quarter worth about $1,105,000. Principal Financial Group Inc. acquired a new position in shares of Paysafe in the 3rd quarter valued at about $764,000. Finally, Barclays PLC boosted its stake in shares of Paysafe by 273.6% during the 3rd quarter. Barclays PLC now owns 42,167 shares of the company’s stock valued at $946,000 after buying an additional 30,881 shares during the period. 54.39% of the stock is currently owned by institutional investors and hedge funds.

Paysafe Company Profile

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.