OppFi (NYSE:OPFI) Sets New 52-Week High – What’s Next?

OppFi Inc. (NYSE:OPFI)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.10 and last traded at $6.10, with a volume of 33523 shares. The stock had previously closed at $5.41.

Analysts Set New Price Targets

Separately, Northland Securities raised their target price on OppFi from $6.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday.

OppFi Price Performance

The stock has a 50 day moving average price of $4.81 and a 200-day moving average price of $3.99. The stock has a market capitalization of $560.21 million, a price-to-earnings ratio of 81.19 and a beta of 1.20.

OppFi (NYSE:OPFI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.12. The company had revenue of $126.30 million for the quarter, compared to analyst estimates of $121.14 million. OppFi had a return on equity of 28.73% and a net margin of 1.00%. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, research analysts forecast that OppFi Inc. will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On OppFi

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPFI. Acadian Asset Management LLC acquired a new position in shares of OppFi in the 1st quarter valued at $51,000. Brendel Financial Advisors LLC acquired a new position in shares of OppFi in the 3rd quarter valued at $105,000. Heron Bay Capital Management lifted its stake in shares of OppFi by 18.5% in the 1st quarter. Heron Bay Capital Management now owns 45,788 shares of the company’s stock valued at $114,000 after purchasing an additional 7,141 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 20,048 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in OppFi during the 3rd quarter worth about $355,000. 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.