Flywire Co. (NASDAQ:FLYW) Sees Large Drop in Short Interest

Flywire Co. (NASDAQ:FLYW) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 4,390,000 shares, a decline of 7.2% from the December 15th total of 4,730,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is presently 3.4 days.

Flywire Stock Down 0.3 %

Shares of FLYW traded down $0.06 during mid-day trading on Friday, hitting $20.03. The company had a trading volume of 1,026,591 shares, compared to its average volume of 1,039,711. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54. The business’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $18.68. The stock has a market cap of $2.49 billion, a PE ratio of 133.53, a P/E/G ratio of 1.47 and a beta of 1.10.

Hedge Funds Weigh In On Flywire

Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Flywire in the 2nd quarter valued at about $26,000. Advisors Asset Management Inc. lifted its position in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Flywire during the third quarter worth approximately $149,000. Algert Global LLC acquired a new stake in shares of Flywire in the second quarter worth $180,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Flywire in the 4th quarter valued at $239,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLYW. The Goldman Sachs Group increased their price objective on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Morgan Stanley raised their price target on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.36.

Flywire Company Profile

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.