Short Interest in OppFi Inc. (NYSE:OPFI) Expands By 23.3%

OppFi Inc. (NYSE:OPFI - Get Free Report) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,490,000 shares, a growth of 23.3% from the December 15th total of 2,020,000 shares. Approximately 12.7% of the shares of the company are sold short. Based on an average daily volume of 640,100 shares, the days-to-cover ratio is currently 3.9 days.

Insider Activity

In other OppFi news, Director David Vennettilli sold 22,301 shares of OppFi stock in a transaction that occurred 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 sale, the director now owns 121,524 shares of the company's stock, valued at approximately $933,304.32. The trade was a 15.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jocelyn Moore sold 23,149 shares of the firm's stock in a transaction that occurred 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 sale, the director now directly owns 99,072 shares of the company's stock, valued at $663,782.40. This represents a 18.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,450 shares of company stock valued at $971,370. Company insiders own 84.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position 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 purchasing an additional 5,795 shares during the period. Quadrature Capital Ltd acquired a new stake in OppFi in the 3rd quarter worth about $60,000. Geode Capital Management LLC grew its holdings in OppFi by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 401,122 shares of the company's stock valued at $1,897,000 after buying an additional 18,149 shares during the period. Bank of New York Mellon Corp grew its holdings in OppFi by 120.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,690 shares of the company's stock valued at $124,000 after buying an additional 20,048 shares during the period. Finally, Barclays PLC increased its stake in shares of OppFi by 95.9% during the 3rd quarter. Barclays PLC now owns 42,141 shares of the company's stock valued at $199,000 after acquiring an additional 20,630 shares during the last quarter. Institutional investors and hedge funds own 7.10% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities raised their price objective on OppFi from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Friday, December 13th.

OppFi Price Performance

OppFi stock traded down $0.23 during mid-day trading on Friday, hitting $11.03. 2,472,407 shares of the company were exchanged, compared to its average volume of 761,301. OppFi has a 12-month low of $2.35 and a 12-month high of $12.08. The company has a market capitalization of $950.72 million, a P/E ratio of 68.93 and a beta of 1.45. The business's 50 day simple moving average is $7.82 and its two-hundred day simple moving average is $5.63.

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.

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