FlexShopper, Inc. (NASDAQ:FPAY) Short Interest Up 18.3% in August

FlexShopper, Inc. (NASDAQ:FPAY) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 50,400 shares, a growth of 18.3% from the August 15th total of 42,600 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 78,400 shares, the days-to-cover ratio is currently 0.6 days.

FlexShopper Price Performance

Shares of NASDAQ FPAY opened at $1.07 on Tuesday. The stock has a market capitalization of $23.27 million, a price-to-earnings ratio of -3.24 and a beta of 1.03. FlexShopper has a 12 month low of $0.59 and a 12 month high of $2.47. The firm’s 50 day simple moving average is $1.36 and its 200-day simple moving average is $1.11. The company has a debt-to-equity ratio of 11.27, a current ratio of 12.51 and a quick ratio of 12.51.

FlexShopper (NASDAQ:FPAY) last released its quarterly earnings results on Monday, August 14th. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.18). FlexShopper had a negative net margin of 3.80% and a negative return on equity of 217.90%. The company had revenue of $24.53 million during the quarter, compared to analyst estimates of $36.36 million. Analysts expect that FlexShopper will post -0.73 EPS for the current year.

Institutional Investors Weigh In On FlexShopper

A number of institutional investors have recently added to or reduced their stakes in FPAY. BerganKDV Wealth Management LLC acquired a new stake in FlexShopper in the 2nd quarter valued at $26,000. Stratos Wealth Partners LTD. acquired a new stake in FlexShopper in the 1st quarter valued at $37,000. State Street Corp grew its stake in FlexShopper by 204.4% in the 3rd quarter. State Street Corp now owns 51,826 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 34,800 shares during the period. UBS Group AG grew its stake in FlexShopper by 10.2% in the 3rd quarter. UBS Group AG now owns 110,200 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 10,200 shares during the period. Finally, Marshall Wace LLP purchased a new position in FlexShopper in the 3rd quarter valued at $287,000. Institutional investors and hedge funds own 13.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright dropped their price objective on shares of FlexShopper from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th.

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 durable products, including consumer electronics; home appliances; computers, including tablets and wearables; smartphones; tires; and jewelry and furniture, such as accessories.