AppTech Payments Corp. (NASDAQ:APCX) Sees Large Drop in Short Interest

AppTech Payments Corp. (NASDAQ:APCX) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 55,500 shares, a drop of 75.5% from the March 31st total of 226,100 shares. Based on an average daily trading volume, of 154,500 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On AppTech Payments

An institutional investor recently bought a new position in AppTech Payments stock. Armistice Capital LLC bought a new stake in AppTech Payments Corp. (NASDAQ:APCX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $199,000. Armistice Capital LLC owned approximately 0.48% of AppTech Payments as of its most recent SEC filing. 5.15% of the stock is currently owned by hedge funds and other institutional investors.

AppTech Payments Stock Performance

Shares of APCX traded down $0.03 during mid-day trading on Friday, reaching $0.86. 81,651 shares of the stock traded hands, compared to its average volume of 134,209. The stock has a fifty day simple moving average of $1.33 and a 200 day simple moving average of $1.71. AppTech Payments has a 12-month low of $0.80 and a 12-month high of $4.81. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.02.

AppTech Payments (NASDAQ:APCX) last announced its earnings results on Monday, April 1st. The company reported ($0.15) earnings per share (EPS) for the quarter. AppTech Payments had a negative return on equity of 332.30% and a negative net margin of 3,673.02%. The business had revenue of $0.14 million for the quarter.

AppTech Payments Company Profile

AppTech Payments Corp., a financial technology company, provides electronic payment processing technologies and merchant services in the United States. Its merchant transaction services offer financial processing payments for credit and debit cards via point-of-sale equipment, e-commerce gateways, periodic automatic clearing house payments, and gift and loyalty programs.