OppFi (NYSE:OPFI) Trading Down 10% – Here’s Why

OppFi Inc. (NYSE:OPFI) traded down 10% during mid-day trading on Tuesday . The company traded as low as $12.36 and last traded at $11.80. 628,991 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 2,547,869 shares. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citizens Jmp lowered OppFi from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Northland Securities boosted their price objective on shares of OppFi from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, JMP Securities cut shares of OppFi from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 12th.

OppFi Stock Down 2.4 %

The company has a market cap of $978.05 million, a price-to-earnings ratio of 70.91 and a beta of 1.57. The business has a fifty day simple moving average of $10.71 and a 200 day simple moving average of $7.21.

Insider Buying and Selling

In other OppFi news, Director David Vennettilli sold 22,301 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $7.68, for a total value of $171,271.68. Following the sale, the director now owns 121,524 shares of the company’s stock, valued at approximately $933,304.32. This represents a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 84.00% of the stock is owned by insiders.

Institutional Investors Weigh In On OppFi

Several institutional investors and hedge funds have recently made changes to their positions in OPFI. Quadrature Capital Ltd purchased a new stake in shares of OppFi in the third quarter valued at about $60,000. Ancora Advisors LLC purchased a new position in OppFi during the fourth quarter worth $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OppFi by 8.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,801 shares of the company’s stock valued at $83,000 after acquiring an additional 866 shares in the last quarter. Mariner LLC acquired a new stake in shares of OppFi during the fourth quarter valued at $93,000. Finally, MetLife Investment Management LLC purchased a new stake in OppFi during the 4th quarter worth about $98,000. 7.10% of the stock is currently owned by hedge funds and other institutional investors.

About OppFi

OppFi Inc operates a cialty finance platform that allows banks to offer credit access. Its platform facilitates the OppLoans, an installment loan product; SalaryTap, a payroll deduction secured installment loan product; and OppFi Card, a credit card product. OppFi Inc was founded in 2012 and is headquartered in Chicago, Illinois.