FlexShopper (NASDAQ:FPAY) Stock Passes Below Fifty Day Moving Average of $1.17

FlexShopper, Inc. (NASDAQ:FPAY)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.17 and traded as low as $1.06. FlexShopper shares last traded at $1.07, with a volume of 10,370 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $2.50 price objective on shares of FlexShopper in a report on Wednesday, May 15th.

FlexShopper Stock Down 2.7 %

The business has a 50-day moving average price of $1.17 and a 200-day moving average price of $1.18. The company has a market capitalization of $23.27 million, a price-to-earnings ratio of -3.34 and a beta of 1.33. The company has a quick ratio of 13.70, a current ratio of 13.70 and a debt-to-equity ratio of 19.16.

FlexShopper (NASDAQ:FPAY) last announced its earnings results on Monday, May 13th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $33.95 million for the quarter, compared to analyst estimates of $29.30 million. FlexShopper had a negative return on equity of 58.72% and a negative net margin of 3.51%. As a group, equities analysts anticipate that FlexShopper, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at FlexShopper

In other FlexShopper news, Director Howard Dvorkin purchased 64,054 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average cost of $1.12 per share, with a total value of $71,740.48. Following the completion of the transaction, the director now owns 4,390,299 shares of the company’s stock, valued at $4,917,134.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have acquired 211,386 shares of company stock valued at $240,518. Company insiders own 36.70% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in FlexShopper stock. Waterfall Asset Management LLC purchased a new position in shares of FlexShopper, Inc. (NASDAQ:FPAY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,629,544 shares of the financial services provider’s stock, valued at approximately $2,721,000. FlexShopper makes up approximately 3.7% of Waterfall Asset Management LLC’s portfolio, making the stock its 6th biggest position. Waterfall Asset Management LLC owned about 7.53% of FlexShopper as of its most recent filing with the SEC. 19.41% of the stock is owned by institutional investors.

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.