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

FlexShopper, Inc. (NASDAQ:FPAY) shares 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 changing hands.

Analyst Upgrades and Downgrades

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

FlexShopper Stock Performance

The company has a debt-to-equity ratio of 17.71, a current ratio of 9.68 and a quick ratio of 9.68. The firm has a fifty day simple moving average of $1.18 and a 200 day simple moving average of $1.30. The company has a market capitalization of $22.19 million, a price-to-earnings ratio of -3.19 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) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.23. The business had revenue of $30.27 million for the quarter, compared to the consensus estimate of $28.04 million. FlexShopper had a negative return on equity of 61.52% and a negative net margin of 3.62%. On average, analysts anticipate that FlexShopper, Inc. will post 0.1 earnings per share 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 bought a new stake in FlexShopper, Inc. (NASDAQ:FPAY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,629,544 shares of the financial services provider’s stock, valued at approximately $2,721,000. FlexShopper makes up 3.7% of Waterfall Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Waterfall Asset Management LLC owned about 7.53% of FlexShopper as of its most recent SEC filing. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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.