Maxim Group Issues Positive Forecast for FlexShopper (NASDAQ:FPAY) Stock Price

FlexShopper (NASDAQ:FPAY) had its price target upped by Maxim Group from $2.00 to $4.00 in a research note released on Friday,Benzinga reports. Maxim Group currently has a buy rating on the financial services provider’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $2.50 price target on shares of FlexShopper in a research note on Friday.

FlexShopper Price Performance

Shares of FPAY stock opened at $1.53 on Friday. FlexShopper has a fifty-two week low of $0.97 and a fifty-two week high of $1.95. The company has a debt-to-equity ratio of 28.90, a quick ratio of 15.78 and a current ratio of 15.78. The firm has a market capitalization of $32.73 million, a price-to-earnings ratio of -8.97 and a beta of 1.33. The stock’s 50-day simple moving average is $1.21 and its 200-day simple moving average is $1.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FPAY. Heron Bay Capital Management purchased a new stake in shares of FlexShopper in the 1st quarter valued at $43,000. Insigneo Advisory Services LLC purchased a new stake in shares of FlexShopper in the second quarter worth about $58,000. Renaissance Technologies LLC raised its position in FlexShopper by 30.0% during the second quarter. Renaissance Technologies LLC now owns 220,590 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 50,847 shares in the last quarter. Finally, Waterfall Asset Management LLC acquired a new position in FlexShopper in the third quarter valued at approximately $1,678,000. 19.41% of the stock is currently owned by hedge funds and other institutional investors.

About FlexShopper

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.