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

PaySign, Inc. (NASDAQ:PAYS) was the target of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 10,530,000 shares, a growth of 17.1% from the November 14th total of 8,990,000 shares. Currently, 39.3% of the shares of the company are sold short. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 9.9 days.

PaySign stock traded down $0.12 during midday trading on Friday, reaching $10.35. 249,220 shares of the stock traded hands, compared to its average volume of 1,071,889. The firm has a fifty day moving average price of $10.53 and a two-hundred day moving average price of $12.03. The firm has a market cap of $491.70 million, a price-to-earnings ratio of 115.00 and a beta of 0.76. PaySign has a fifty-two week low of $3.15 and a fifty-two week high of $18.67.

PaySign (NASDAQ:PAYS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $9.00 million during the quarter, compared to analyst estimates of $8.98 million. PaySign had a net margin of 19.56% and a return on equity of 66.05%. PaySign’s quarterly revenue was up 40.6% on a year-over-year basis. On average, research analysts expect that PaySign will post 0.27 EPS for the current year.

A number of research analysts have issued reports on PAYS shares. DA Davidson started coverage on shares of PaySign in a research note on Thursday, November 14th. They set a “buy” rating and a $16.00 target price for the company. ValuEngine raised shares of PaySign from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Zacks Investment Research raised shares of PaySign from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, November 12th. BTIG Research reissued a “hold” rating on shares of PaySign in a research note on Tuesday, September 10th. Finally, Canaccord Genuity reduced their target price on shares of PaySign from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.17.

In other PaySign news, Director Quinn P. Williams sold 15,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $11.03, for a total transaction of $165,450.00. Also, CEO Mark Newcomer sold 200,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $11.03, for a total transaction of $2,206,000.00. Insiders sold a total of 469,592 shares of company stock valued at $5,244,792 over the last ninety days. Company insiders own 38.60% of the company’s stock.

Several large investors have recently modified their holdings of PAYS. Strs Ohio acquired a new stake in shares of PaySign in the 2nd quarter worth approximately $105,000. Advisor Group Inc. acquired a new stake in shares of PaySign in the 2nd quarter worth approximately $218,000. Janus Henderson Group PLC acquired a new stake in shares of PaySign in the 2nd quarter worth approximately $355,000. TRUE Private Wealth Advisors acquired a new stake in shares of PaySign in the 2nd quarter worth approximately $66,000. Finally, Kavar Capital Partners LLC acquired a new stake in shares of PaySign in the 2nd quarter worth approximately $79,000. 30.59% of the stock is owned by institutional investors.

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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