OppFi (NYSE:OPFI) Shares Gap Down - Here's What Happened

On Tuesday, shares of OppFi Inc. (NYSE:OPFI) experienced a gap down in premarket trading. The stock, which closed the previous day at $15.42, opened at $14.92. As the trading session progressed, OppFi shares were last seen trading at $15.40, with a total volume of 757,602 shares exchanged.

Wall Street Analysts Evaluate OppFi

A variety of analysts have shared their opinions on the stock. JMP Securities recently reduced their rating on OppFi from "outperform" to "market perform" in a report released on Wednesday. Meanwhile, Northland Securities increased their target price for OppFi from $8.00 to $10.00 while retaining an "outperform" rating, as detailed in a report from December 13th. In addition, Citizens JMP downgraded their assessment of OppFi from a "strong-buy" to a "hold" rating.

OppFi Stock Declines 9.1%

Following these rating adjustments, OppFi's stock saw a decline of 9.1%. The company currently holds a market capitalization of $1.12 billion with a price-to-earnings (PE) ratio of 81.29 and a beta of 1.57. The stock's 50-day moving average price stands at $10.27, while the 200-day moving average is at $6.95.

Insider Trading Activity

In related news, David Vennettilli, a director at OppFi, sold 22,301 shares on December 2nd at an average price of $7.68. This transaction resulted in a total of $171,271.68. After this sale, Vennettilli still owns 121,524 shares, now valued at $933,304.32, reflecting a 15.51% decrease in his stake. Information about this transaction has been made available in a filing with the Securities and Exchange Commission (SEC). Notably, insiders hold 84.00% of the company's stock.

Institutional Investor Activity

Recently, several institutional investors have adjusted their positions in OppFi. Quadrature Capital Ltd made a new investment in the stock during the third quarter, valued at approximately $60,000. Following this, Mariner LLC also acquired a new stake in the company worth about $93,000 in the fourth quarter. In a further indication of increased investor interest, Jane Street Group LLC boosted their stake by 28.9% in the third quarter, now holding 25,842 shares valued at $122,000 after an additional purchase of 5,795 shares last quarter. XTX Topco Ltd invested approximately $136,000 in a new stake during the third quarter, and NewEdge Advisors LLC increased their ownership by 4.7% in the fourth quarter, now possessing 18,328 shares valued at $140,000. Overall, institutional investors own about 7.10% of OppFi's stock.

Overview of OppFi

OppFi Inc. operates a financial technology platform designed to enable banks to extend credit access. Their offerings include OppLoans, which are installment loans; SalaryTap, a secured payroll deduction loan product; and the OppFi Card, a credit card offering. Founded in 2012, OppFi is headquartered in Chicago, Illinois.

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Investors should carefully consider their strategies before making decisions regarding OppFi, especially in light of recent market movements and analyst ratings.

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