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

FlexShopper (NASDAQ:FPAY)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $2.50 price target on the financial services provider’s stock. HC Wainwright’s price objective points to a potential upside of 51.52% from the company’s previous close.

Separately, Maxim Group boosted their price target on shares of FlexShopper from $2.00 to $4.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

FlexShopper Price Performance

Shares of NASDAQ:FPAY opened at $1.65 on Tuesday. The company has a 50 day moving average of $1.57 and a 200 day moving average of $1.29. The company has a current ratio of 7.98, a quick ratio of 7.98 and a debt-to-equity ratio of 19.65. The stock has a market cap of $35.41 million, a P/E ratio of -9.71 and a beta of 1.43. FlexShopper has a 12 month low of $0.97 and a 12 month high of $2.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FPAY. Renaissance Technologies LLC raised its stake in FlexShopper by 30.0% in the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 50,847 shares in the last quarter. Insigneo Advisory Services LLC bought a new position in shares of FlexShopper in the 2nd quarter worth $58,000. Finally, Waterfall Asset Management LLC bought a new position in shares of FlexShopper in the 3rd quarter worth $1,678,000. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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 consumer electronics; home appliances; computers, such as tablets and wearables; smartphones; tires; and jewelry and furniture, including accessories.