FlexShopper (NASDAQ:FPAY) Trading 5.5% Higher

FlexShopper Inc (NASDAQ:FPAY) traded up 5.5% during trading on Friday . The company traded as high as $1.73 and last traded at $1.72, 155,592 shares traded hands during mid-day trading. A decline of 32% from the average session volume of 229,329 shares. The stock had previously closed at $1.63.

A number of research analysts recently commented on the company. ValuEngine cut FlexShopper from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Maxim Group assumed coverage on FlexShopper in a research report on Thursday, October 10th. They issued a “buy” rating and a $3.00 price target on the stock.

The stock has a 50-day moving average of $1.47 and a 200 day moving average of $1.34.

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

In other news, Director Howard Dvorkin purchased 19,238 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were purchased at an average price of $1.62 per share, with a total value of $31,165.56. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 28.20% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in FlexShopper stock. Vanguard Group Inc. grew its position in shares of FlexShopper Inc (NASDAQ:FPAY) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,774 shares of the financial services provider’s stock after buying an additional 11,300 shares during the period. Vanguard Group Inc. owned 1.43% of FlexShopper worth $277,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 12.05% of the company’s stock.

About FlexShopper (NASDAQ:FPAY)

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.

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