Flywire Co. (NASDAQ:FLYW) Sees Significant Increase in Short Interest

Flywire Co. (NASDAQ:FLYW - Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 6,970,000 shares, a growth of 6.9% from the September 30th total of 6,520,000 shares. Approximately 5.9% of the company's shares are sold short. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is currently 6.3 days.

Flywire Trading Up 0.1 %

NASDAQ:FLYW traded up $0.02 during trading hours on Friday, hitting $17.44. 697,325 shares of the stock traded hands, compared to its average volume of 1,378,452. The firm has a 50 day moving average price of $17.12 and a 200 day moving average price of $17.58. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -247.43, a PEG ratio of 7.72 and a beta of 0.97.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million for the quarter, compared to analysts' expectations of $100.30 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company's revenue was up 22.2% on a year-over-year basis. Research analysts predict that Flywire will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FLYW. Royal Bank of Canada lowered their target price on Flywire from $34.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. BTIG Research cut their price objective on Flywire from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Flywire from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, B. Riley reissued a "buy" rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $26.07.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 1,769 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company's stock, valued at approximately $4,934,246.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, General Counsel Peter Butterfield sold 1,769 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company's stock, valued at $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Rob Orgel sold 4,552 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares of the company's stock, valued at $8,613,594.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flywire

A number of large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Flywire during the second quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Flywire during the first quarter valued at about $46,000. Daiwa Securities Group Inc. bought a new stake in Flywire during the second quarter valued at about $64,000. Advisors Asset Management Inc. boosted its holdings in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company's stock valued at $76,000 after acquiring an additional 954 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Flywire during the third quarter valued at about $149,000. 95.90% of the stock is currently owned by institutional investors.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.