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Is a Correction Looming Ahead for SoFi Technologies Inc. (SOFI)

SoFi Technologies Inc. (NASDAQ:SOFI) went up by 0.50% from its latest closing price compared to the recent 1-year high of $24.65. The company’s stock price has collected -5.15% of loss in the last five trading sessions. Barron’s reported on 09/14/22 that SoFi Stock Gets an Upgrade to Buy. Student Loan Payments Are Resuming Soon.

Is It Worth Investing in SoFi Technologies Inc. (NASDAQ :SOFI) Right Now?

Opinions of the stock are interesting as 9 analysts out of 14 who provided ratings for SoFi Technologies Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 5 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $8.63, which is $2.54 above the current price. SOFI currently public float of 777.47M and currently shorts hold a 13.28% ratio of that float. Today, the average trading volume of SOFI was 40.01M shares.

SOFI’s Market Performance

SOFI stocks went down by -5.15% for the week, with a monthly drop of -8.98% and a quarterly performance of 6.67%, while its annual performance rate touched -59.71%. The volatility ratio for the week stands at 5.57% while the volatility levels for the past 30 days are set at 5.42% for SoFi Technologies Inc. The simple moving average for the period of the last 20 days is -0.50% for SOFI stocks with a simple moving average of -33.18% for the last 200 days.

Analysts’ Opinion of SOFI

Many brokerage firms have already submitted their reports for SOFI stocks, with BofA Securities repeating the rating for SOFI by listing it as a “Buy.” The predicted price for SOFI in the upcoming period, according to BofA Securities is $9 based on the research report published on September 14th of the current year 2022.

Piper Sandler gave a rating of “Overweight” to SOFI, setting the target price at $10 in the report published on May 16th of the current year.

SOFI Trading at -7.33% from the 50-Day Moving Average

After a stumble in the market that brought SOFI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -75.33% of loss for the given period.

Volatility was left at 5.42%, however, over the last 30 days, the volatility rate increased by 5.57%, as shares sank -3.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -1.78% lower at present.

During the last 5 trading sessions, SOFI fell by -5.15%, which changed the moving average for the period of 200-days by -62.90% in comparison to the 20-day moving average, which settled at $6.10. In addition, SoFi Technologies Inc. saw -61.54% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at SOFI starting from SOFTBANK GROUP CORP, who sale 6,683,133 shares at the price of $8.17 back on Aug 08. After this action, SOFTBANK GROUP CORP now owns 83,216,977 shares of SoFi Technologies Inc., valued at $54,601,197 using the latest closing price.

SOFTBANK GROUP CORP, the 10% Owner of SoFi Technologies Inc., sale 5,381,785 shares at $7.99 during a trade that took place back on Aug 05, which means that SOFTBANK GROUP CORP is holding 89,900,110 shares at $43,000,462 based on the most recent closing price.

Stock Fundamentals for SOFI

Current profitability levels for the company are sitting at:

  • -34.79 for the present operating margin
  • +41.65 for the gross margin

The net margin for SoFi Technologies Inc. stands at -44.49. Equity return is now at value -8.20, with -3.70 for asset returns.

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