Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 6,170,000 shares, a drop of 11.5% from the October 15th total of 6,970,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 5.7 days. Approximately 5.2% of the company's shares are short sold.

Flywire Stock Up 0.7 %

Shares of NASDAQ:FLYW traded up $0.16 during trading on Friday, hitting $21.93. 1,610,109 shares of the company traded hands, compared to its average volume of 1,384,897. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 146.20, a PEG ratio of 4.23 and a beta of 0.95. Flywire has a one year low of $15.19 and a one year high of $31.54. The business's fifty day moving average is $17.63 and its 200-day moving average is $17.50.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company lowered Flywire from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. BTIG Research dropped 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. Morgan Stanley increased their target price on Flywire from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Raymond James raised their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.86.

Insider Activity

In other news, COO Rob Orgel sold 3,824 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the completion of the transaction, the chief operating officer now directly owns 473,648 shares in the company, valued at approximately $8,198,846.88. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David R. King sold 3,504 shares of Flywire stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the sale, the chief technology officer now directly owns 616,680 shares in the company, valued at $10,674,730.80. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Flywire during the second quarter valued at $26,000. Headlands Technologies LLC boosted its stake in Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company's stock valued at $55,000 after purchasing an additional 1,509 shares during the period. Daiwa Securities Group Inc. bought a new position in Flywire in the 2nd quarter worth about $64,000. Advisors Asset Management Inc. increased its stake in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after purchasing an additional 539 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Flywire during the third quarter valued at approximately $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.