Stocks

OppFi (NYSE:OPFI) Shares Gap Up - What's Next?

Published January 3, 2025

OppFi Inc. (NYSE:OPFI) experienced a notable increase in its stock price as it gapped up before the market opened on Friday. The stock had closed the previous day at $8.08 and opened at $8.31. By the end of trading, OppFi shares were last noted at $8.50, with a trading volume of 134,760 shares.

Wall Street Analysts Forecast Growth

In a positive development for the company, Northland Securities raised their price target for OppFi from $8.00 to $10.00, assigning it an "outperform" rating. This revision came in a report issued on December 13th.

OppFi Stock Up 4.2%

The stock has shown a significant upward trend, with its fifty-day simple moving average currently at $6.94 and its two-hundred-day simple moving average at $5.16. OppFi boasts a market capitalization of $725.92 million, a price-to-earnings ratio of 52.63, and a beta of 1.45, which indicates a relatively high level of volatility.

Insider Activity at OppFi

Inrelated news regarding insider trading, Director Jocelyn Moore sold 23,149 shares of OppFi on November 11th at an average price of $6.70, totaling approximately $155,098.30. Following this transaction, Moore’s holdings decreased by 18.94%, leaving her with 99,072 shares valued at $663,782.40. Additionally, Director David Vennettilli sold 100,000 shares at an average price of $6.45 on November 8th. After this sale, he held 143,825 shares worth about $927,671.25, representing a 41.01% reduction in his stake. Insiders have sold a total of 145,450 shares in the last ninety days, valued at nearly $971,370. As it stands, insiders own 84.00% of the company's stock.

Institutional Investors Weigh In On OppFi

Institutional investment firms have been making adjustments to their positions in OppFi. Quadrature Capital Ltd entered a new position in the company during the third quarter, valued at $60,000. Brendel Financial Advisors LLC also acquired a new stake, amounting to approximately $105,000. Furthermore, Jane Street Group LLC increased its ownership by 28.9% in the same quarter, owning now 25,842 shares valued at $122,000 after adding 5,795 shares. Additionally, Bank of New York Mellon Corp raised its holdings in OppFi by 120.5% in the previous quarter. The firm now owns 36,690 shares worth $124,000 after purchasing an additional 20,048 shares. Lastly, XTX Topco Ltd secured a new stake, estimated at around $136,000 during the third quarter. Approximately 7.10% of the stock is currently held by hedge funds and other institutional investors.

About OppFi

OppFi Inc. operates a specialty finance platform that enables banks to provide access to credit. This platform facilitates varied lending products, including OppLoans, a type of installment loan; SalaryTap, which is a secured installment loan product using payroll deduction; and the OppFi Card, a credit card product. Founded in 2012 and headquartered in Chicago, Illinois, OppFi focuses on financial technology solutions.