Paysafe (NYSE:PSFE) Shares Gap Down – Time to Sell?

Paysafe Limited (NYSE:PSFE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $22.79, but opened at $20.61. Paysafe shares last traded at $20.19, with a volume of 101,704 shares changing hands.

Analyst Ratings Changes

PSFE has been the subject of a number of research analyst reports. Royal Bank of Canada cut their target price on shares of Paysafe from $25.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Susquehanna cut their price objective on Paysafe from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, November 14th.

Paysafe Price Performance

The firm’s 50 day simple moving average is $18.54 and its two-hundred day simple moving average is $20.28. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $1.13 billion, a P/E ratio of -48.91, a P/E/G ratio of 0.57 and a beta of 1.89.

Institutional Trading of Paysafe

A number of institutional investors have recently made changes to their positions in PSFE. State Street Corp lifted its holdings in Paysafe by 1.5% in the 3rd quarter. State Street Corp now owns 1,427,043 shares of the company’s stock worth $32,009,000 after buying an additional 20,418 shares during the period. Private Management Group Inc. bought a new position in shares of Paysafe in the fourth quarter worth approximately $8,489,000. Empowered Funds LLC grew its holdings in shares of Paysafe by 5.1% during the fourth quarter. Empowered Funds LLC now owns 250,604 shares of the company’s stock valued at $4,285,000 after buying an additional 12,156 shares during the last quarter. Foundry Partners LLC bought a new stake in shares of Paysafe during the third quarter valued at approximately $5,450,000. Finally, Raymond James Financial Inc. purchased a new stake in Paysafe during the 4th quarter valued at $1,944,000. Hedge funds and other 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.