Paysafe (NYSE:PSFE) Sees Large Volume Increase – Here’s Why

Paysafe Limited (NYSE:PSFE) shares saw strong trading volume on Thursday . 901,896 shares traded hands during mid-day 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America upped their target price on Paysafe from $16.20 to $19.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 27th. UBS Group upped their price target on Paysafe from $16.50 to $17.00 and gave the company a “sell” rating in a report on Wednesday, August 14th. Royal Bank of Canada dropped their price target on Paysafe from $25.00 to $21.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Finally, Susquehanna cut their target price on shares of Paysafe from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

Paysafe Stock Performance

The firm’s 50 day simple moving average is $21.55 and its 200-day simple moving average is $20.08. 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

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Paysafe by 24.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,633,280 shares of the company’s stock worth $28,876,000 after acquiring an additional 324,207 shares during the last quarter. State Street Corp increased its stake in shares of Paysafe by 1.5% in the third quarter. State Street Corp now owns 1,427,043 shares of the company’s stock worth $32,009,000 after acquiring an additional 20,418 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake 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 worth $4,781,000 after acquiring an additional 85,170 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Paysafe in the third quarter worth $5,450,000. Finally, Empowered Funds LLC increased its stake in shares of Paysafe by 5.3% in the third quarter. Empowered Funds LLC now owns 238,448 shares of the company’s stock worth $5,348,000 after acquiring an additional 12,060 shares during the last quarter. 54.39% of the stock is owned by institutional investors and hedge funds.

Paysafe Company Profile

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.