FlexShopper (NASDAQ:FPAY) Earns “Buy” Rating from HC Wainwright

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $2.50 price objective on the financial services provider’s stock. HC Wainwright’s price objective points to a potential upside of 72.41% from the company’s current price.

FlexShopper Trading Up 12.8 %

Shares of FPAY opened at $1.45 on Friday. FlexShopper has a twelve month low of $0.94 and a twelve month high of $1.95. The firm has a market capitalization of $31.12 million, a P/E ratio of -6.30 and a beta of 1.33. The firm’s 50-day moving average is $1.19 and its two-hundred day moving average is $1.16. The company has a current ratio of 15.78, a quick ratio of 15.78 and a debt-to-equity ratio of 28.90.

Hedge Funds Weigh In On FlexShopper

Several institutional investors have recently modified their holdings of the company. Heron Bay Capital Management purchased a new stake in shares of FlexShopper during the first quarter valued at $43,000. Insigneo Advisory Services LLC purchased a new position in FlexShopper during the 2nd quarter worth approximately $58,000. Renaissance Technologies LLC raised its stake in FlexShopper by 30.0% during the 2nd quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares during the period. Finally, Waterfall Asset Management LLC purchased a new stake in shares of FlexShopper in the third quarter valued at $1,678,000. Institutional investors own 19.41% of the company’s stock.

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.