Paysafe (NYSE:PSFE) Shares Gap Down – Should You Sell?

Paysafe Limited (NYSE:PSFE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $22.79, but opened at $20.61. Paysafe shares last traded at $20.19, with a volume of 101,704 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PSFE. Royal Bank of Canada lowered their price objective on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Susquehanna reduced their target price on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th.

Paysafe Trading Down 18.2 %

The stock has a market cap of $1.13 billion, a P/E ratio of -48.91, a PEG ratio of 0.57 and a beta of 1.89. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.76. The business’s 50 day simple moving average is $18.54 and its two-hundred day simple moving average is $20.28.

Hedge Funds Weigh In On Paysafe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in Paysafe by 2.4% during the 2nd quarter. Creative Planning now owns 22,063 shares of the company’s stock worth $390,000 after purchasing an additional 508 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Paysafe by 107.7% in the third quarter. SG Americas Securities LLC now owns 13,149 shares of the company’s stock worth $295,000 after buying an additional 6,817 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in shares of Paysafe in the third quarter worth about $560,000. Principal Financial Group Inc. bought a new position in shares of Paysafe in the third quarter valued at approximately $764,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Paysafe during the third quarter valued at approximately $225,000. 54.39% of the stock is owned by hedge funds and other institutional investors.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.