Flywire Corp (NASDAQ: FLYW) stock jumped 4.81% on Monday to $23.33 against a previous-day closing price of $22.26. With 1.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.23 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $23.37 whereas the lowest price it dropped to was $21.99. The 52-week range on FLYW shows that it touched its highest point at $35.80 and its lowest point at $18.65 during that stretch. It currently has a 1-year price target of $33.19. Beta for the stock currently stands at 0.95.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FLYW was up-trending over the past week, with a rise of 13.14%, but this was down by -16.23% over a month. Three-month performance dropped to -26.38% while six-month performance fell -25.44%. The stock gained 11.52% in the past year, while it has lost -4.66% so far this year. A look at the trailing 12-month EPS for FLYW yields -0.10 with Next year EPS estimates of 0.03. For the next quarter, that number is -0.08. This implies an EPS growth rate of 54.13% for this year and 118.36% for next year.
Float and Shares Shorts:
At present, 121.41 million FLYW shares are outstanding with a float of 115.88 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.97 million, which was 5.75% higher than short shares on Sep 28, 2023. In addition to Mr. Michael Massaro as the firm’s CEO & Director, Mr. Robert Orgel serves as its President & COO.
Through their ownership of 90.63% of FLYW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.88% of FLYW, in contrast to 47.33% held by mutual funds. Shares owned by individuals account for 24.77%. As the largest shareholder in FLYW with 8.95% of the stake, Temasek Holdings Pte Ltd. holds 10,635,573 shares worth 10,635,573. A second-largest stockholder of FLYW, The Vanguard Group, Inc., holds 10,240,363 shares, controlling over 8.62% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in FLYW, holding 5,971,832 shares or 5.03% stake. With a 3.18% stake in FLYW, the Eventide Gilead Fund is the largest stakeholder. A total of 3,777,381 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of FLYW stock, is the second-largest Mutual Fund holder. It holds 3,519,138 shares valued at 94.63 million. Vanguard Small Cap Index Fund holds 2.43% of the stake in FLYW, owning 2,889,993 shares worth 77.71 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLYW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FLYW analysts setting a high price target of $41.00 and a low target of $27.00, the average target price over the next 12 months is $33.19. Based on these targets, FLYW could surge 75.74% to reach the target high and rise by 15.73% to reach the target low. Reaching the average price target will result in a growth of 42.26% from current levels.
Summary of Insider Activity:
Insiders traded FLYW stock several times over the past three months with 6 Buys and 15 Sells. In these transactions, 112,022 shares were bought while 147,617 shares were sold. The number of buy transactions has increased to 77 while that of sell transactions has risen to 160 over the past year. The total number of shares bought during that period was 4,539,707 while 27,969,833 shares were sold.