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

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 462,000 shares, an increase of 24.1% from the December 31st total of 372,400 shares. Based on an average daily trading volume, of 227,400 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the company's stock are short sold.

Paysign Stock Down 2.6 %

Shares of PAYS traded down $0.07 during mid-day trading on Friday, reaching $2.64. The company had a trading volume of 105,060 shares, compared to its average volume of 258,047. The stock has a market capitalization of $141.37 million, a P/E ratio of 17.60 and a beta of 0.93. Paysign has a 52-week low of $2.46 and a 52-week high of $5.59. The stock has a 50 day moving average of $3.01 and a two-hundred day moving average of $3.78.

Paysign (NASDAQ:PAYS - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $15.26 million for the quarter, compared to analyst estimates of $14.96 million. Paysign had a return on equity of 30.64% and a net margin of 14.28%. During the same quarter in the prior year, the firm posted $0.02 EPS. On average, sell-side analysts expect that Paysign will post 0.21 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barrington Research reiterated an "outperform" rating and set a $7.00 price target on shares of Paysign in a research note on Monday, November 4th. Lake Street Capital initiated coverage on Paysign in a research report on Friday, December 20th. They issued a "buy" rating and a $6.00 target price on the stock.

Insider Transactions at Paysign

In related news, CEO Mark Newcomer sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $3.27, for a total value of $81,750.00. Following the completion of the transaction, the chief executive officer now directly owns 9,236,886 shares of the company's stock, valued at $30,204,617.22. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Topline Capital Partners, Lp sold 20,834 shares of the business's stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $3.03, for a total transaction of $63,127.02. Following the sale, the insider now directly owns 5,611,128 shares in the company, valued at approximately $17,001,717.84. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 933,087 shares of company stock valued at $2,946,099 in the last 90 days. Insiders own 23.40% of the company's stock.

Institutional Trading of Paysign

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in Paysign by 33.5% in the fourth quarter. SG Americas Securities LLC now owns 15,508 shares of the company's stock valued at $47,000 after buying an additional 3,895 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Paysign by 4.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,089 shares of the company's stock valued at $419,000 after purchasing an additional 5,000 shares in the last quarter. Rhumbline Advisers raised its holdings in Paysign by 13.7% in the 4th quarter. Rhumbline Advisers now owns 44,284 shares of the company's stock worth $134,000 after purchasing an additional 5,339 shares during the period. Bard Associates Inc. boosted its position in Paysign by 19.7% during the fourth quarter. Bard Associates Inc. now owns 33,450 shares of the company's stock worth $101,000 after purchasing an additional 5,497 shares in the last quarter. Finally, Algert Global LLC purchased a new position in Paysign during the second quarter worth approximately $46,000. 25.89% of the stock is owned by hedge funds and other institutional investors.

Paysign Company Profile

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.