Paysafe (NYSE:PSFE) Sees Large Volume Increase – Should You Buy?

Shares of Paysafe Limited (NYSE:PSFE) saw unusually-strong trading volume on Thursday . Approximately 901,896 shares traded hands during trading, an increase of 156% from the previous session’s volume of 352,756 shares.The stock last traded at $17.60 and had previously closed at $16.99.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSFE. Bank of America boosted their price objective on Paysafe from $16.20 to $19.00 and gave the company an “underperform” rating in a research note on Tuesday, August 27th. Susquehanna reduced their price objective on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, UBS Group increased their price objective on Paysafe from $16.50 to $17.00 and gave the stock a “sell” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paysafe has an average rating of “Hold” and an average price target of $18.00.

Paysafe Price Performance

The company has a 50 day simple moving average of $21.75 and a 200-day simple moving average of $20.09. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.14 and a current ratio of 1.14.

Hedge Funds Weigh In On Paysafe

Several institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Paysafe by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 186,811 shares of the company’s stock worth $2,950,000 after acquiring an additional 23,353 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Paysafe by 7.4% in the first quarter. Vanguard Group Inc. now owns 173,192 shares of the company’s stock worth $2,735,000 after buying an additional 11,884 shares during the period. Gamco Investors INC. ET AL raised its holdings in Paysafe by 16.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 20,650 shares of the company’s stock valued at $326,000 after buying an additional 2,950 shares during the last quarter. Gabelli Funds LLC boosted its position in Paysafe by 32.6% during the 1st quarter. Gabelli Funds LLC now owns 152,500 shares of the company’s stock valued at $2,408,000 after buying an additional 37,500 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Paysafe by 39.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 302,765 shares of the company’s stock valued at $4,781,000 after acquiring an additional 85,170 shares during the period. Institutional investors own 54.39% of the company’s stock.

About Paysafe

Paysafe Limited provides end-to-end payment solutions in the United States, Germany, the United Kingdom, and internationally. Its payments platform offers a range of payment solutions comprising credit and debit card processing, digital wallet, eCash, and real-time banking solutions for entertainment verticals, such as iGaming, including online betting related to sports, e-sports, fantasy sports, poker, and other casino games, as well as travel, streaming/video gaming, retail/hospitality, and digital assets.