OppFi (NYSE: OPFI) Stock Sees 10.8% Increase - Should You Buy?

OppFi Inc. (NYSE:OPFI) experienced a significant increase in its stock price, trading up by 10.8% during mid-day trading on Tuesday. The stock reached a high of $10.89 before settling at $10.79, showing a notable uptick from its previous closing price of $9.74. During this trading session, 767,697 shares changed hands, reflecting a substantial drop in volume compared to the average of 2,241,995 shares.

Analyst Revisions

Recently, there was an upgrade for OppFi from Northland Securities, who raised their price target on the stock from $8.00 to $10.00, citing their belief that it will outperform market expectations.

Stock Performance Metrics

OppFi holds a market capitalization of $972.88 million, with a price-to-earnings (P/E) ratio of 70.54, and a beta of 1.45, indicating volatility compared to the broader market. The 50-day simple moving average stands at $7.64, while the 200-day average is $5.53, illustrating strong upward momentum in recent weeks.

Insider Transactions

In insider trading news, Director David Vennettilli divested himself of 22,301 shares at an average price of $7.68, for a total of about $171,271.68. This sale reduced his holdings by approximately 15.51%. Another director, Jocelyn Moore, also sold 23,149 shares at $6.70 each, resulting in a total transaction value of $155,098.30 and a reduction in their position by about 18.94%. Over the last three months, insiders have sold a total of 145,450 shares, amounting to $971,370. Currently, insiders own 84% of the company’s stock.

Institutional Investment Trends

Hedge funds have been actively adjusting their positions in OppFi. For instance, Segall Bryant & Hamill LLC acquired a new stake valued at approximately $2.46 million during the third quarter. Los Angeles Capital Management also bought into OppFi, investing around $355,000. Meanwhile, Marshall Wace LLP increased their holdings by 24.2%, bringing their total ownership to 171,318 shares with a value of $581,000. Other investors, such as JPMorgan Chase & Co., also significantly boosted their stakes in the company. As it stands, institutional investors collectively own about 7.10% of OppFi stock.

Company Overview

Founded in 2012, OppFi Inc. operates a financial technology platform that allows banks to provide credit access. Its offerings include OppLoans, a type of installment loan, SalaryTap, which is a secured installment loan product for payroll deduction, and the OppFi Card, a credit card service.

Investment Considerations

Before deciding to invest in OppFi, potential investors may want to consider insights from top-rated analysts. Although OppFi is rated as a "Buy," some analysts have identified five other stocks that they believe present better investment opportunities at this time.

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