Oportun Financial Corporation (NASDAQ:OPRT) Short Interest Down 24.8% in May

Oportun Financial Corporation (NASDAQ:OPRT) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 218,100 shares, a decline of 24.8% from the May 15th total of 289,900 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 440,300 shares, the days-to-cover ratio is currently 0.5 days.

Oportun Financial Trading Up 3.1%

Shares of OPRT stock opened at $7.00 on Friday. The stock has a market capitalization of $307.09 million, a P/E ratio of -6.25 and a beta of 1.25. The firm’s 50 day moving average is $6.03 and its 200 day moving average is $5.39. Oportun Financial has a 12 month low of $2.37 and a 12 month high of $9.25.

Institutional Trading of Oportun Financial

A number of institutional investors have recently modified their holdings of OPRT. Charles Schwab Investment Management Inc. bought a new stake in Oportun Financial during the 1st quarter worth approximately $88,000. Telos Capital Management Inc. increased its holdings in Oportun Financial by 50.0% during the 1st quarter. Telos Capital Management Inc. now owns 20,015 shares of the company’s stock worth $110,000 after acquiring an additional 6,672 shares during the period. Squarepoint Ops LLC bought a new stake in Oportun Financial during the 4th quarter worth approximately $79,000. Balyasny Asset Management L.P. bought a new stake in Oportun Financial during the 4th quarter worth approximately $80,000. Finally, NewEdge Advisors LLC bought a new stake in Oportun Financial during the 1st quarter worth approximately $132,000. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OPRT shares. BTIG Research started coverage on shares of Oportun Financial in a research note on Wednesday, March 5th. They issued a “buy” rating and a $10.00 target price on the stock. Stephens initiated coverage on shares of Oportun Financial in a research note on Thursday, June 12th. They set an “overweight” rating and a $10.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Oportun Financial from $6.50 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, Sidoti upgraded shares of Oportun Financial to a “hold” rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.33.

Oportun Financial Company Profile

Oportun Financial Corporation provides financial services. The company offers personal loans and credit cards. It serves customers through online and over the phone, as well as through retail and Lending as a Service partner locations. The company was founded in 2005 and is headquartered in San Carlos, California.