Short Interest in FlexShopper, Inc. (NASDAQ:FPAY) Expands By 1,047.6%

FlexShopper, Inc. (NASDAQ:FPAY) saw 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 trading volume of 89,000 shares, the short-interest ratio is presently 4.5 days. Approximately 3.5% of the shares of the company are short sold.

FlexShopper Stock Performance

FPAY stock traded up $0.17 during mid-day trading on Thursday, reaching $1.45. The company had a trading volume of 167,054 shares, compared to its average volume of 61,460. The stock’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $1.16. The stock has a market capitalization of $31.12 million, a P/E ratio of -6.35 and a beta of 1.33. The company has a quick ratio of 15.78, a current ratio of 15.78 and a debt-to-equity ratio of 28.90. FlexShopper has a one year low of $0.94 and a one year high of $1.95.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FPAY. Waterfall Asset Management LLC bought a new stake in shares of FlexShopper during the third quarter valued at approximately $1,678,000. Renaissance Technologies LLC increased its position in FlexShopper by 30.0% in the 2nd 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 during the period. Insigneo Advisory Services LLC bought a new stake in FlexShopper during the 2nd quarter valued at $58,000. Finally, Heron Bay Capital Management acquired a new position in FlexShopper during the 1st quarter worth $43,000. 19.41% of the stock is owned by institutional investors and hedge funds.

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.