Flywire Co. (NASDAQ:FLYW) Sees Significant Decrease in Short Interest

Flywire Co. (NASDAQ:FLYW) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 4,390,000 shares, a decrease of 7.2% from the December 15th total of 4,730,000 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 3.4 days.

Flywire Price Performance

FLYW traded down $0.06 during trading on Monday, reaching $20.03. 1,026,591 shares of the stock were exchanged, 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 company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 133.53, a P/E/G ratio of 1.47 and a beta of 1.10. The business’s 50 day moving average price is $20.99 and its two-hundred day moving average price is $18.68.

Institutional Investors Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Flywire during the second quarter worth about $26,000. Advisors Asset Management Inc. raised its position in shares of Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Flywire during the 3rd quarter worth approximately $149,000. Algert Global LLC purchased a new stake in Flywire in the 2nd quarter valued at approximately $180,000. Finally, Olympiad Research LP acquired a new stake in Flywire during the 3rd quarter valued at $206,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FLYW. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Raymond James lifted their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.