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

PaySign, Inc. (NASDAQ:PAYS) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 8,620,000 shares, a decline of 9.3% from the September 30th total of 9,500,000 shares. Currently, 32.2% of the company’s shares are short sold. Based on an average daily volume of 1,310,000 shares, the days-to-cover ratio is presently 6.6 days.

Shares of PAYS traded down $0.56 on Friday, hitting $10.73. The company’s stock had a trading volume of 2,248,100 shares, compared to its average volume of 887,595. The stock has a market capitalization of $541.06 million, a price-to-earnings ratio of 119.22 and a beta of 0.77. The business has a fifty day moving average of $10.84. PaySign has a fifty-two week low of $3.15 and a fifty-two week high of $18.67.

PaySign (NASDAQ:PAYS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $9.00 million for the quarter, compared to analysts’ expectations of $8.98 million. PaySign had a return on equity of 66.05% and a net margin of 19.56%. The business’s revenue was up 40.6% compared to the same quarter last year. As a group, analysts predict that PaySign will post 0.27 earnings per share for the current fiscal year.

In other news, Director Daniel R. Henry sold 2,572 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $11.21, for a total value of $28,832.12. Also, CEO Mark Newcomer sold 200,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.03, for a total value of $2,206,000.00. Insiders have sold a total of 469,592 shares of company stock valued at $5,244,792 over the last three months. Company insiders own 38.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new position in PaySign during the 2nd quarter worth $33,000. Mascoma Wealth Management LLC bought a new position in PaySign during the 2nd quarter worth $40,000. Royal Bank of Canada bought a new position in PaySign during the 2nd quarter worth $47,000. TRUE Private Wealth Advisors bought a new position in PaySign during the 2nd quarter worth $66,000. Finally, Kavar Capital Partners LLC bought a new position in PaySign during the 2nd quarter worth $79,000. Hedge funds and other institutional investors own 24.38% of the company’s stock.

A number of analysts have recently commented on PAYS shares. Canaccord Genuity lowered their price target on PaySign from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Zacks Investment Research raised PaySign from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, November 12th. DA Davidson started coverage on PaySign in a research note on Thursday. They issued a “buy” rating and a $16.00 price target for the company. ValuEngine raised PaySign from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Finally, BTIG Research reaffirmed a “hold” rating on shares of PaySign in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. PaySign currently has a consensus rating of “Buy” and a consensus target price of $13.17.

PaySign Company Profile

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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