FlexShopper, Inc. (NASDAQ:FPAY) Sees Large Growth in Short Interest

FlexShopper, Inc. (NASDAQ:FPAY) was the recipient of a significant growth in short interest during the month of February. As of February 29th, there was short interest totalling 45,900 shares, a growth of 6.0% from the February 14th total of 43,300 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 79,000 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its stake in FlexShopper by 65.0% in the fourth 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 in the last quarter. Waterfall Asset Management LLC acquired a new position in shares of FlexShopper during the fourth quarter worth approximately $2,721,000. State Street Corp boosted its position in shares of FlexShopper by 204.4% during the third quarter. State Street Corp now owns 51,826 shares of the financial services provider’s stock worth $96,000 after buying an additional 34,800 shares during the period. Vanguard Group Inc. boosted its position in shares of FlexShopper by 2.0% during the third quarter. Vanguard Group Inc. now owns 638,583 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 12,232 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of FlexShopper during the third quarter worth approximately $287,000. 13.03% of the stock is owned by hedge funds and other institutional investors.

FlexShopper Trading Up 2.5 %

FlexShopper stock traded up $0.03 during midday trading on Monday, reaching $1.21. The stock had a trading volume of 30,543 shares, compared to its average volume of 53,380. The stock’s 50-day simple moving average is $1.26 and its 200 day simple moving average is $1.26. The company has a debt-to-equity ratio of 17.12, a quick ratio of 13.36 and a current ratio of 13.36. FlexShopper has a twelve month low of $0.59 and a twelve month high of $2.47. The stock has a market capitalization of $26.20 million, a PE ratio of -60.50 and a beta of 1.18.

FlexShopper Company Profile

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.