FlexShopper (NASDAQ:FPAY) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of FlexShopper (NASDAQ:FPAY) from a sell rating to a strong sell rating in a report released on Tuesday morning, ValuEngine reports.

Separately, Maxim Group began coverage on FlexShopper in a report on Thursday, October 10th. They issued a buy rating and a $3.00 price objective for the company.

NASDAQ:FPAY traded up $0.11 during midday trading on Tuesday, hitting $1.99. 16,262 shares of the stock were exchanged, compared to its average volume of 220,909. FlexShopper has a one year low of $0.66 and a one year high of $2.36. The business has a 50-day moving average price of $1.59 and a two-hundred day moving average price of $1.45.

FlexShopper (NASDAQ:FPAY) last released its earnings results on Monday, November 4th. The financial services provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.15. The firm had revenue of $22.93 million during the quarter.

In other FlexShopper news, Director Howard Dvorkin acquired 41,200 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of $1.62 per share, with a total value of $66,744.00. Company insiders own 28.20% of the company’s stock.

An institutional investor recently raised its position in FlexShopper stock. Vanguard Group Inc. increased its stake in FlexShopper Inc (NASDAQ:FPAY) by 4.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,774 shares of the financial services provider’s stock after acquiring an additional 11,300 shares during the quarter. Vanguard Group Inc. owned approximately 1.43% of FlexShopper worth $277,000 at the end of the most recent quarter. Institutional investors and hedge funds own 12.89% of the company’s stock.

FlexShopper Company Profile

FlexShopper, Inc, through its wholly owned subsidiary, FlexShopper, LLC operates as an online lease-to-own (LTO) retailer and LTO payment solution provider. The company provides residential furniture, consumer electronics, computers, appliances, household accessories, and various other durable goods to consumers on a LTO basis to consumers of third-party retailers and e-tailers.

Further Reading: Cash Asset Ratio

To view ValuEngine’s full report, visit ValuEngine’s official website.

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