HC Wainwright Reiterates “Buy” Rating for FlexShopper (NASDAQ:FPAY)

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $2.50 price objective on the financial services provider’s stock. HC Wainwright’s target price suggests a potential upside of 125.23% from the company’s current price.

FlexShopper Stock Up 7.8 %

FPAY stock opened at $1.11 on Wednesday. The company has a debt-to-equity ratio of 28.90, a current ratio of 15.78 and a quick ratio of 15.78. The company has a market cap of $24.14 million, a price-to-earnings ratio of -3.47 and a beta of 1.35. FlexShopper has a 12 month low of $0.94 and a 12 month high of $1.95. The company has a fifty day moving average price of $1.07 and a 200 day moving average price of $1.14.

FlexShopper (NASDAQ:FPAY) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $31.76 million during the quarter, compared to the consensus estimate of $31.00 million. FlexShopper had a positive return on equity of 0.77% and a negative net margin of 0.41%. Sell-side analysts expect that FlexShopper will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Howard Dvorkin acquired 26,756 shares of FlexShopper stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $1.06 per share, with a total value of $28,361.36. Following the completion of the acquisition, the director now owns 4,476,802 shares in the company, valued at approximately $4,745,410.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 58,148 shares of company stock worth $64,830 in the last quarter. Company insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On FlexShopper

Several institutional investors and hedge funds have recently made changes to their positions in FPAY. Heron Bay Capital Management purchased a new position in FlexShopper in the 1st quarter valued at about $43,000. Insigneo Advisory Services LLC purchased a new stake in FlexShopper during the second quarter worth approximately $58,000. Finally, Renaissance Technologies LLC raised its stake in shares of 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. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

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.