Oportun Shares Gain on Profit Run, Questions Remain Around Credit Losses
Oportun Financial shares rose 2.9% to $5.40 Wednesday afternoon, near their intraday high, on volume of about 191,000 shares and no recent company news. Peer lenders and small-cap benchmarks also gained. Oportun’s latest filings show first-quarter net income of $2.3 million and a net charge-off rate rising to 12.7%. The company plans a new credit model and risk-based pricing as delinquency rates edge down.
