Short Interest in PaySign, Inc. (NASDAQ:PAYS) Rises By 7.3%

PaySign, Inc. (NASDAQ:PAYS) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 10,140,000 shares, a growth of 7.3% from the January 15th total of 9,450,000 shares. Approximately 38.0% of the company’s stock are sold short. Based on an average daily trading volume, of 776,300 shares, the short-interest ratio is presently 13.1 days.

A number of hedge funds have recently modified their holdings of PAYS. Sculptor Capital LP purchased a new stake in PaySign during the fourth quarter worth about $2,114,000. AQR Capital Management LLC boosted its holdings in PaySign by 134.7% during the fourth quarter. AQR Capital Management LLC now owns 123,932 shares of the company’s stock worth $1,258,000 after buying an additional 71,122 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in PaySign by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 284,751 shares of the company’s stock worth $2,889,000 after buying an additional 18,583 shares in the last quarter. UBS Group AG boosted its holdings in PaySign by 11.2% during the fourth quarter. UBS Group AG now owns 139,340 shares of the company’s stock worth $1,414,000 after buying an additional 14,063 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in PaySign by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 2,255,119 shares of the company’s stock worth $22,889,000 after buying an additional 103,100 shares in the last quarter. 30.78% of the stock is owned by institutional investors.

Several equities analysts have commented on PAYS shares. ValuEngine raised shares of PaySign from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Zacks Investment Research cut shares of PaySign from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th. BidaskClub cut shares of PaySign from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Finally, DA Davidson started coverage on shares of PaySign in a research report on Thursday, November 14th. They issued a “buy” rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.17.

PAYS stock traded down $0.11 during midday trading on Friday, hitting $9.34. The company’s stock had a trading volume of 204,796 shares. PaySign has a 52-week low of $6.76 and a 52-week high of $18.67. The firm has a 50-day simple moving average of $9.39 and a 200-day simple moving average of $10.92.

PaySign Company Profile

PaySign, Inc provides prepaid card programs and processing services under the PaySign brand to corporations, government agencies, universities, and other organizations. The company offers various services, including transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a proprietary card-processing platform.

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