OppFi Inc. (NYSE:OPFI) Short Interest Update

OppFi Inc. (NYSE:OPFI) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,630,000 shares, a growth of 24.4% from the October 31st total of 1,310,000 shares. Based on an average daily trading volume, of 347,500 shares, the days-to-cover ratio is currently 4.7 days. Currently, 8.6% of the company’s shares are sold short.

Insider Buying and Selling

In related news, Director David Vennettilli sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $6.45, for a total transaction of $645,000.00. Following the sale, the director now owns 143,825 shares of the company’s stock, valued at $927,671.25. The trade was a 41.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $6.70, for a total value 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 represents a 18.94 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 84.00% of the company’s stock.

Hedge Funds Weigh In On OppFi

Institutional investors and hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new position in OppFi in the 3rd quarter worth about $2,457,000. Vanguard Group Inc. increased its stake in shares of OppFi by 0.6% during the first quarter. Vanguard Group Inc. now owns 823,916 shares of the company’s stock valued at $2,060,000 after buying an additional 5,218 shares during the period. Brendel Financial Advisors LLC bought a new stake in shares of OppFi during the third quarter valued at approximately $105,000. Marshall Wace LLP boosted its holdings in OppFi by 24.2% in the second quarter. Marshall Wace LLP now owns 171,318 shares of the company’s stock worth $581,000 after acquiring an additional 33,347 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings 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 valued at $124,000 after purchasing an additional 20,048 shares in the last quarter. 7.10% of the stock is currently owned by institutional investors.

OppFi Price Performance

OPFI traded down $0.47 on Monday, hitting $7.69. 830,035 shares of the stock were exchanged, compared to its average volume of 300,229. The firm has a market capitalization of $662.99 million, a price-to-earnings ratio of 48.00 and a beta of 1.20. OppFi has a 12 month low of $2.35 and a 12 month high of $8.54. The business has a 50-day moving average of $5.71 and a two-hundred day moving average of $4.48.

Analyst Upgrades and Downgrades

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

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.