PaySign, Inc. (NASDAQ:PAYS) Sees Significant Growth in Short Interest

PaySign, Inc. (NASDAQ:PAYS) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 10,140,000 shares, an increase of 7.3% from the January 15th total of 9,450,000 shares. Based on an average daily volume of 776,300 shares, the short-interest ratio is presently 13.1 days. Currently, 38.0% of the company’s shares are sold short.

Shares of NASDAQ:PAYS traded down $0.11 during mid-day trading on Friday, reaching $9.34. The stock had a trading volume of 204,900 shares, compared to its average volume of 489,406. The firm has a market cap of $452.88 million, a PE ratio of 84.92 and a beta of 0.66. The firm has a 50 day simple moving average of $9.39 and a two-hundred day simple moving average of $10.92. PaySign has a twelve month low of $6.76 and a twelve month high of $18.67.

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new stake in shares of PaySign in the 2nd quarter valued at approximately $47,000. TRUE Private Wealth Advisors acquired a new stake in shares of PaySign in the 4th quarter valued at approximately $50,000. Veritas Investment Management LLP acquired a new stake in shares of PaySign in the 4th quarter valued at approximately $70,000. Citigroup Inc. raised its position in shares of PaySign by 32.2% in the 4th quarter. Citigroup Inc. now owns 7,312 shares of the company’s stock valued at $74,000 after acquiring an additional 1,783 shares during the period. Finally, Metropolitan Life Insurance Co NY acquired a new stake in shares of PaySign in the 3rd quarter valued at approximately $77,000. Institutional investors and hedge funds own 30.78% of the company’s stock.

A number of research firms have issued reports on PAYS. Zacks Investment Research downgraded shares of PaySign from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th. DA Davidson started coverage on shares of PaySign in a research report on Thursday, November 14th. They set a “buy” rating and a $16.00 target price on the stock. BidaskClub downgraded shares of PaySign from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Finally, ValuEngine upgraded shares of PaySign from a “sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.17.

About PaySign

PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.

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