Shares of SoFi Technologies Inc (NASDAQ:SOFI) are up 1.5% to trade at $18.56 this morning, after landing fresh coverage from Piper Sandler. The firm gave the fintech an "overweight" rating and $22 price target, citing the company's "high-growth personal finance story" and its large growing market for debt consolidation.
Since the start of the month, SOFI has consolidated around $18. The equity has struggled this year, shedding 30% so far and is now more than 40% off its Nov. 12 record high of $32.73.
It's no surprise then that analysts have been uncertain, with 17 of the 25 in coverage sporting a "hold," "sell," or "strong sell" recommendation. Shorts are firmly in control as well, with 15% of the stock's available float sold short.
Options are affordably priced as well, with the stock's Schaeffer’s Volatility Index (SVI) of 45% stands in the 4th percentile of its annual range. And with a Schaeffer's Volatility Scorecard (SVS) of 13 out of 100, the security has consistently realized lower volatility than its options have priced in, so a premium-selling strategy could be the move for options traders.
