FlexShopper (NASDAQ:FPAY) Stock Price Passes Below 50 Day Moving Average of $1.18

FlexShopper, Inc. (NASDAQ:FPAY) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.18 and traded as low as $1.02. FlexShopper shares last traded at $1.02, with a volume of 63,433 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright increased their target price on shares of FlexShopper from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Wednesday, April 3rd.

FlexShopper Stock Up 1.0 %

The company has a quick ratio of 9.68, a current ratio of 9.68 and a debt-to-equity ratio of 17.71. The stock’s 50-day simple moving average is $1.18 and its 200 day simple moving average is $1.30. The firm has a market cap of $22.62 million, a P/E ratio of -3.25 and a beta of 1.28.

FlexShopper (NASDAQ:FPAY) last released its earnings results on Monday, April 1st. The financial services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.23. FlexShopper had a negative return on equity of 61.52% and a negative net margin of 3.62%. The business had revenue of $30.27 million during the quarter, compared to analysts’ expectations of $28.04 million. As a group, research analysts forecast that FlexShopper, Inc. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On FlexShopper

A hedge fund recently bought a new stake in FlexShopper stock. Waterfall Asset Management LLC purchased a new position in FlexShopper, Inc. (NASDAQ:FPAY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 largest position. Waterfall Asset Management LLC owned 7.53% of FlexShopper as of its most recent SEC filing. Institutional investors and hedge funds 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.