FlexShopper (NASDAQ:FPAY) Share Price Crosses Below 50-Day Moving Average – Here’s Why

FlexShopper, Inc. (NASDAQ:FPAYGet Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.53 and traded as low as $1.43. FlexShopper shares last traded at $1.52, with a volume of 50,373 shares trading hands.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a report on Tuesday, December 24th.

Get Our Latest Research Report on FlexShopper

FlexShopper Stock Performance

The stock has a market capitalization of $32.58 million, a PE ratio of -8.93 and a beta of 1.54. The company has a quick ratio of 7.98, a current ratio of 7.98 and a debt-to-equity ratio of 19.65. The stock has a fifty day moving average of $1.53 and a 200-day moving average of $1.47.

Insider Activity

In other FlexShopper news, CEO Harold Russell Jr. Heiser bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $1.45 per share, with a total value of $43,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 969,874 shares of the company’s stock, valued at $1,406,317.30. This represents a 3.19 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 30.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FPAY. Traphagen Investment Advisors LLC acquired a new position in shares of FlexShopper in the 4th quarter valued at $30,000. Virtu Financial LLC acquired a new position in FlexShopper in the fourth quarter valued at $30,000. Heron Bay Capital Management acquired a new position in FlexShopper in the fourth quarter valued at $56,000. Insigneo Advisory Services LLC grew its holdings in shares of FlexShopper by 33.3% during the third quarter. Insigneo Advisory Services LLC now owns 60,000 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of FlexShopper during the fourth quarter worth about $109,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

About FlexShopper

(Get Free Report)

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.

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