Paysign (NASDAQ:PAYS) Trading Down 3% - Time to Sell?

Paysign, Inc. (NASDAQ:PAYS - Get Free Report) was down 3% during mid-day trading on Tuesday . The stock traded as low as $7.97 and last traded at $8.01. Approximately 1,006,220 shares traded hands during trading, an increase of 247% from the average daily volume of 289,839 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. LADENBURG THALM/SH SH increased their price target on shares of Paysign from $7.25 to $8.25 and gave the company a "buy" rating in a report on Friday, May 9th. DA Davidson set a $8.00 target price on shares of Paysign in a report on Friday, June 13th. Lake Street Capital boosted their price target on Paysign from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of Paysign in a research note on Wednesday, March 26th.

Paysign Trading Down 8.1%

The firm has a 50-day moving average of $4.83 and a two-hundred day moving average of $3.35. The firm has a market capitalization of $423.46 million, a PE ratio of 71.01 and a beta of 0.75.

Paysign (NASDAQ:PAYS - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $18.60 million during the quarter, compared to analysts' expectations of $17.49 million. Paysign had a net margin of 9.55% and a return on equity of 19.49%. Equities research analysts expect that Paysign, Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paysign news, Director Daniel R. Henry bought 19,800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $3.42 per share, for a total transaction of $67,716.00. Following the transaction, the director directly owned 99,800 shares in the company, valued at $341,316. The trade was a 24.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Newcomer sold 168,000 shares of Paysign stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $4.51, for a total transaction of $757,680.00. Following the sale, the chief executive officer owned 8,768,886 shares in the company, valued at approximately $39,547,675.86. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,000 shares of company stock valued at $1,277,877 in the last 90 days. Insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Topline Capital Management LLC acquired a new stake in shares of Paysign during the fourth quarter worth $16,946,000. 1248 Management LLC acquired a new stake in Paysign during the 4th quarter worth about $2,778,000. Millennium Management LLC lifted its stake in Paysign by 123.6% during the fourth quarter. Millennium Management LLC now owns 325,334 shares of the company's stock valued at $983,000 after buying an additional 179,814 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Paysign in the fourth quarter worth about $489,000. Finally, Renaissance Technologies LLC increased its position in shares of Paysign by 11.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,501,622 shares of the company's stock worth $4,535,000 after acquiring an additional 149,200 shares in the last quarter. 25.89% of the stock is owned by institutional investors and hedge funds.

About Paysign

Paysign, Inc provides prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing services for businesses, consumers, and government institutions. Its product offerings include solutions for corporate rewards, prepaid gift cards, general purpose reloadable debit cards, employee incentives, consumer rebates, donor compensation, clinical trials, healthcare reimbursement payments and pharmaceutical payment assistance, and demand deposit accounts accessible with a debit card.