FlexShopper, Inc. (NASDAQ:FPAY – Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 43,600 shares, a growth of 25.3% from the March 15th total of 34,800 shares. Based on an average daily trading volume, of 55,800 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.4% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Separately, HC Wainwright raised their target price on FlexShopper from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd.
View Our Latest Research Report on FlexShopper
FlexShopper Price Performance
Institutional Investors Weigh In On FlexShopper
Several hedge funds and other institutional investors have recently made changes to their positions in FPAY. Waterfall Asset Management LLC acquired a new stake in shares of FlexShopper in the 4th quarter valued at $2,721,000. Marshall Wace LLP acquired a new stake in shares of FlexShopper in the 3rd quarter valued at $287,000. Renaissance Technologies LLC boosted its position in shares of FlexShopper by 53.4% in the 3rd quarter. Renaissance Technologies LLC now owns 287,780 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 100,125 shares during the last quarter. State Street Corp boosted its position in shares of FlexShopper by 204.4% in the 3rd quarter. State Street Corp now owns 51,826 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 34,800 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of FlexShopper by 65.0% in the 4th quarter. Northern Trust Corp now owns 38,983 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 15,361 shares during the last quarter. 19.41% of the stock is owned by institutional investors and hedge funds.
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.
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