Short Interest: What Next for Cardconnect Corporation (NASDAQ:CCN) Stock After Increase in Shorted Shares?

November 29, 2016 - By Nellie Frank   ·   0 Comments

Short Interest: What Next for Cardconnect Corporation (NASDAQ:CCN) Stock After Increase in Shorted Shares?

The stock of Cardconnect Corporation (NASDAQ:CCN) registered an increase of 6.74% in short interest. CCN’s total short interest was 389,600 shares in November as published by FINRA. Its up 6.74% from 365,000 shares, reported previously. With 33,500 shares average volume, it will take short sellers 12 days to cover their CCN’s short positions. The short interest to Cardconnect Corporation’s float is 16.57%. The stock closed at $9.9 during the last session. It is down 1.30% since April 26, 2016 and is downtrending. It has underperformed by 6.56% the S&P500.

CardConnect Corp., formerly FinTech Acquisition Corp., is a well-known provider of payment processing and technology solutions. The company has a market cap of $281.79 million. The Firm has developed advanced payment solutions using point-to-point encryption and tokenization. It has a 990 P/E ratio. The Company’s small-to-midsize business offering, CardPointe, is a platform that includes a reporting and transaction management portal, which extends to a native mobile application.

CardConnect Corp (NASDAQ:CCN) Ratings Coverage

Out of 4 analysts covering CardConnect (NASDAQ:CCN), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. CardConnect has been the topic of 4 analyst reports since August 12, 2016 according to StockzIntelligence Inc. The firm has “Buy” rating by BTIG Research given on Friday, September 23. The stock of CardConnect Corp (NASDAQ:CCN) earned “Overweight” rating by Piperjaffray on Friday, August 12. The firm earned “Buy” rating on Friday, September 30 by Cantor Fitzgerald. The firm has “Overweight” rating by PiperJaffray given on Friday, August 12.

CCN Company Profile

CardConnect Corp., formerly FinTech Acquisition Corp., incorporated on November 1, 2013, is a well-known provider of payment processing and technology solutions. The Firm has developed advanced payment solutions using point-to-point encryption (P2PE) and tokenization. The Company’s small-to-midsize business offering, CardPointe, is a platform that includes a reporting and transaction management portal, which extends to a native mobile application. For enterprise-level organizations, CardSecure integrates omni-channel payment acceptance into several enterprise resource planning (ERP) systems, such as Oracle, SAP, JD Edwards and Infor M3.

More notable recent CardConnect Corp (NASDAQ:CCN) news were published by: Reuters.com which released: “BRIEF-CardConnect Corp reports third quarter financial results” on November 10, 2016, also Businesswire.com with their article: “CardConnect Corp. Reports Third Quarter Financial Results” published on November 10, 2016, Businesswire.com published: “CardConnect Completes Merger with FinTech Acquisition Corp.” on August 01, 2016. More interesting news about CardConnect Corp (NASDAQ:CCN) were released by: Businesswire.com and their article: “CardConnect® and FinTech Acquisition Corp. Announce Merger Agreement Combining …” published on March 07, 2016 as well as Globenewswire.com‘s news article titled: “CardConnect Corp. (Nasdaq: CCN) to Ring The Nasdaq Stock Market Closing Bell” with publication date: September 02, 2016.

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By Nellie Frank


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