Short Interest in Oportun Financial Corporation (NASDAQ:OPRT) Declines By 24.8%

Oportun Financial Corporation (NASDAQ:OPRT - Get Free Report) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 218,100 shares, a drop of 24.8% from the May 15th total of 289,900 shares. Based on an average trading volume of 440,300 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.7% of the company's stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OPRT shares. JPMorgan Chase & Co. cut their target price on Oportun Financial from $6.50 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. BTIG Research initiated 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 for the company. Sidoti raised shares of Oportun Financial to a "hold" rating in a research report on Thursday, May 1st. Finally, Stephens started coverage on shares of Oportun Financial in a research report on Thursday, June 12th. They issued an "overweight" rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.33.

Oportun Financial Price Performance

Shares of NASDAQ OPRT traded up $0.21 during mid-day trading on Thursday, reaching $7.00. 358,528 shares of the company's stock were exchanged, compared to its average volume of 295,847. The firm has a market capitalization of $307.09 million, a price-to-earnings ratio of -6.25 and a beta of 1.25. The firm has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $5.36. Oportun Financial has a 52 week low of $2.37 and a 52 week high of $9.25.

Institutional Trading of Oportun Financial

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in shares of Oportun Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 116,228 shares of the company's stock worth $451,000 after purchasing an additional 5,608 shares during the last quarter. Acuitas Investments LLC grew its holdings in Oportun Financial by 11.9% during the fourth quarter. Acuitas Investments LLC now owns 1,150,204 shares of the company's stock valued at $4,463,000 after purchasing an additional 122,360 shares during the period. Flaharty Asset Management LLC increased its position in Oportun Financial by 11.1% in the fourth quarter. Flaharty Asset Management LLC now owns 50,000 shares of the company's stock worth $194,000 after buying an additional 5,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Oportun Financial by 747.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 157,300 shares of the company's stock worth $610,000 after buying an additional 138,735 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Oportun Financial by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 82,826 shares of the company's stock valued at $321,000 after buying an additional 5,901 shares during the period. Institutional investors own 82.70% of the company's stock.

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.