OppFi (NYSE:OPFI) Sees Strong Trading Volume – What’s Next?

OppFi Inc. (NYSE:OPFI) shares saw strong trading volume on Tuesday . 329,323 shares changed hands during trading, an increase of 12% from the previous session’s volume of 293,961 shares.The stock last traded at $7.99 and had previously closed at $7.85.

Analyst Upgrades and Downgrades

Separately, Northland Securities raised their price objective on shares of OppFi from $6.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

OppFi Price Performance

The company’s 50-day simple moving average is $5.42 and its 200-day simple moving average is $4.34. The stock has a market capitalization of $689.68 million, a price-to-earnings ratio of 49.13 and a beta of 1.20.

Insider Transactions at OppFi

In other news, Director David Vennettilli sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $6.45, for a total transaction of $645,000.00. Following the transaction, the director now directly owns 143,825 shares of the company’s stock, valued at approximately $927,671.25. This trade represents a 41.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of OppFi stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $6.70, for a total transaction of $155,098.30. Following the completion of the transaction, the director now directly owns 99,072 shares in the company, valued at $663,782.40. This trade represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 84.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in OppFi in the first quarter valued at approximately $51,000. Quadrature Capital Ltd bought a new stake in shares of OppFi during the third quarter worth $60,000. Brendel Financial Advisors LLC bought a new stake in shares of OppFi during the third quarter worth $105,000. Jane Street Group LLC grew its stake in shares of OppFi by 28.9% during the third quarter. Jane Street Group LLC now owns 25,842 shares of the company’s stock worth $122,000 after buying an additional 5,795 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of OppFi by 120.5% during the second quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company’s stock worth $124,000 after buying an additional 20,048 shares during the last quarter. 7.10% of the stock is owned by 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.