FlexShopper’s (FPAY) Buy Rating Reiterated at HC Wainwright

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $2.50 target price on the financial services provider’s stock. HC Wainwright’s target price would suggest a potential upside of 104.92% from the company’s previous close.

FlexShopper Trading Up 4.3 %

NASDAQ FPAY opened at $1.22 on Wednesday. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90. The stock has a 50 day moving average of $1.07 and a 200-day moving average of $1.14. The company has a market cap of $26.54 million, a PE ratio of -3.81 and a beta of 1.35.

FlexShopper (NASDAQ:FPAY) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. FlexShopper had a negative net margin of 0.41% and a positive return on equity of 0.77%. The firm had revenue of $31.76 million during the quarter, compared to analysts’ expectations of $31.00 million. On average, equities research analysts anticipate that FlexShopper will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other FlexShopper news, Director Howard Dvorkin acquired 26,756 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $1.06 per share, for a total transaction of $28,361.36. Following the completion of the purchase, the director now directly owns 4,476,802 shares of the company’s stock, valued at $4,745,410.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders acquired 58,148 shares of company stock worth $64,830. Company insiders own 36.70% of the company’s stock.

Hedge Funds Weigh In On FlexShopper

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heron Bay Capital Management bought a new position in shares of FlexShopper in the first quarter valued at about $43,000. Insigneo Advisory Services LLC bought a new stake in shares of FlexShopper during the 2nd quarter worth about $58,000. Finally, Renaissance Technologies LLC grew its stake 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 buying an additional 50,847 shares during the last quarter. 19.41% of the stock is owned by institutional investors.

FlexShopper Company Profile

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.