Payoneer Global Inc. (NASDAQ:PAYO) Sees Large Increase in Short Interest

Payoneer Global Inc. (NASDAQ:PAYOGet Rating) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,950,000 shares, a growth of 103.1% from the March 15th total of 4,900,000 shares. Based on an average trading volume of 3,330,000 shares, the short-interest ratio is currently 3.0 days. Approximately 5.0% of the shares of the stock are sold short.

Large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. lifted its position in Payoneer Global by 101.5% in the 3rd quarter. Advisor Group Holdings Inc. now owns 3,970 shares of the company’s stock worth $35,000 after buying an additional 2,000 shares in the last quarter. Assetmark Inc. bought a new position in shares of Payoneer Global during the 3rd quarter valued at $39,000. Royal Bank of Canada bought a new position in shares of Payoneer Global during the 2nd quarter valued at $41,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Payoneer Global by 1,622.5% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,976 shares of the company’s stock valued at $50,000 after purchasing an additional 6,571 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Payoneer Global during the 4th quarter valued at $58,000. Institutional investors and hedge funds own 56.98% of the company’s stock.

Shares of NASDAQ:PAYO traded down $0.05 during mid-day trading on Friday, hitting $4.62. The stock had a trading volume of 1,920,762 shares, compared to its average volume of 2,800,491. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.03. Payoneer Global has a 12-month low of $3.85 and a 12-month high of $11.20. The company’s 50 day moving average is $4.57 and its 200-day moving average is $6.31.

Payoneer Global (NASDAQ:PAYOGet Rating) last issued its quarterly earnings results on Thursday, March 3rd. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). The firm had revenue of $139.22 million during the quarter, compared to analysts’ expectations of $126.29 million. Payoneer Global had a negative net margin of 7.18% and a negative return on equity of 17.36%. The firm’s revenue was up 47.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) EPS. As a group, research analysts expect that Payoneer Global will post -0.22 earnings per share for the current year.

A number of brokerages recently weighed in on PAYO. Citigroup reduced their target price on shares of Payoneer Global from $12.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, January 26th. Zacks Investment Research cut shares of Payoneer Global from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 9th. Finally, Needham & Company LLC reduced their target price on shares of Payoneer Global from $13.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Payoneer Global presently has an average rating of “Buy” and an average price target of $10.75.

About Payoneer Global (Get Rating)

Payoneer Inc operates a cross-border payment and commerce-enabling platform that facilitates digital businesses, online sellers, and freelancers worldwide to receive and manage their international payments. The company delivers a suite of services that includes cross-border payments, working capital, tax solutions, merchant services, and risk management.

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