Flywire (NASDAQ:FLYW) Shares Down 5.5% – Here’s What Happened

Flywire Co. (NASDAQ:FLYW)’s share price was down 5.5% during trading on Monday . The company traded as low as $19.18 and last traded at $19.32. Approximately 119,383 shares changed hands 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.

Analyst Ratings Changes

A number of analysts have weighed in on FLYW shares. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of Flywire in a report on Wednesday, October 2nd. Raymond James increased their target price on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Finally, The Goldman Sachs Group boosted their target price on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.29.

Flywire Price Performance

The stock has a market cap of $2.33 billion, a P/E ratio of 124.80, a PEG ratio of 3.03 and a beta of 1.08. The company has a fifty day moving average of $20.83 and a 200 day moving average of $18.50.

Institutional Trading of Flywire

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

Flywire Company Profile

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.