FlexShopper Inc. (NASDAQ:FPAY) Short Interest Up 591.0% in October

FlexShopper Inc. (NASDAQ:FPAY) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 297,800 shares, a growth of 591.0% from the September 30th total of 43,100 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 620,800 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 620,800 shares, the short-interest ratio is currently 0.5 days. Approximately 2.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. HC Wainwright cut their price target on shares of FlexShopper from $2.50 to $0.50 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of FlexShopper in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.25.

Institutional Investors Weigh In On FlexShopper

A hedge fund recently bought a new stake in FlexShopper stock. XTX Topco Ltd acquired a new stake in FlexShopper Inc. (NASDAQ:FPAY) in the first quarter, according to its most recent filing with the SEC. The fund acquired 25,604 shares of the financial services provider’s stock, valued at approximately $33,000. XTX Topco Ltd owned approximately 0.12% of FlexShopper at the end of the most recent quarter. Institutional investors own 19.41% of the company’s stock.

FlexShopper Stock Performance

NASDAQ:FPAY opened at $0.01 on Thursday. The firm has a 50-day moving average price of $0.52 and a two-hundred day moving average price of $0.94. FlexShopper has a 52 week low of $0.00 and a 52 week high of $2.37. The firm has a market cap of $139,496.50, a price-to-earnings ratio of -0.03 and a beta of 1.08.

About FlexShopper

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.