SoFi Technologies Inc SOFI Shares are trading lower on Monday morning after a Downgrading of Wedbush.

What happened: Wedbush Analyst David Chiaverini downgraded SoFi to underperform from neutral and lowered its price target to $2.50 from $5, citing valuation concerns. The analyst worries that a potential deferral of fee income, as well as a possible need to raise additional capital, could hurt the valuation.

This is the second time Chiaverini has been demoted SoFi in the last two weeks. Earlier in the month, Wedbush analyst downgraded SoFi to neutral from outperform and lowered its price target to $5 from $8.

According to Benzinga Insider trading activity pageCEO Anthony Noto bought 30,000 shares last week at an average price of $5.12 per share. Despite recent insider buying, SoFi shares are hovering near their 52-week low. As such, SoFi currently holds a short stake of 12.42% Gasoline Pro.

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SOFI price campaign: SoFi has a 52-week high of $8.52 and a 52-week low of $4.24.

The stock was up 6.57% at $4.68 at the time of publication Gasoline Pro.

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