Flywire Co. (NASDAQ:FLYW) Short Interest Up 6.9% in October

Flywire Co. (NASDAQ:FLYW) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 6,970,000 shares, a growth of 6.9% from the September 30th total of 6,520,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is currently 6.3 days. Approximately 5.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on FLYW. JPMorgan Chase & Co. boosted their price target on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and a consensus price target of $26.07.

Flywire Stock Performance

NASDAQ FLYW traded down $0.06 during trading on Friday, hitting $17.36. The stock had a trading volume of 400,649 shares, compared to its average volume of 1,376,921. The company has a market capitalization of $2.17 billion, a PE ratio of -247.43, a P/E/G ratio of 7.72 and a beta of 0.97. The company’s 50-day moving average price is $17.12 and its two-hundred day moving average price is $17.58. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. As a group, equities analysts anticipate that Flywire will post 0.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, General Counsel Peter Butterfield sold 1,769 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares in the company, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the sale, the chief technology officer now owns 620,184 shares in the company, valued at approximately $11,188,119.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in Flywire during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Flywire in the first quarter worth $46,000. Daiwa Securities Group Inc. bought a new position in Flywire during the 2nd quarter worth $64,000. Advisors Asset Management Inc. raised its position in shares of Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after acquiring an additional 954 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire in the 3rd quarter worth approximately $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.