OppFi (NYSE:OPFI) Shares Up 10.8% - Time to Buy?

OppFi Inc. (NYSE:OPFI - Get Free Report)'s share price shot up 10.8% during trading on Tuesday . The stock traded as high as $10.89 and last traded at $10.79. 767,697 shares changed hands during trading, a decline of 66% from the average session volume of 2,241,995 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

Separately, Northland Securities boosted their price target on shares of OppFi from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Friday, December 13th.

OppFi Stock Performance

The company's 50 day moving average price is $7.39 and its 200 day moving average price is $5.43. The company has a market cap of $915.59 million, a price-to-earnings ratio of 66.38 and a beta of 1.45.

Insider Activity

In other OppFi news, Director David Vennettilli sold 22,301 shares of the 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 transaction, the director now directly owns 121,524 shares in the company, valued at approximately $933,304.32. This trade represents a 15.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jocelyn Moore sold 23,149 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $6.70, for a total value of $155,098.30. Following the sale, the director now owns 99,072 shares of the company's stock, valued at approximately $663,782.40. The trade was a 18.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,450 shares of company stock worth $971,370. Insiders own 84.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OPFI. Quadrature Capital Ltd acquired a new stake in shares of OppFi during the third quarter worth about $60,000. Brendel Financial Advisors LLC bought a new position in OppFi in the third quarter valued at approximately $105,000. Jane Street Group LLC boosted its holdings in shares of OppFi by 28.9% in the third quarter. Jane Street Group LLC now owns 25,842 shares of the company's stock valued at $122,000 after buying an additional 5,795 shares during the period. Bank of New York Mellon Corp increased its holdings in OppFi by 120.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company's stock worth $124,000 after purchasing an additional 20,048 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of OppFi in the 3rd quarter valued at about $136,000. Institutional investors and hedge funds own 7.10% of the company's stock.

OppFi Company Profile

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.