Open Lending Corporation (NASDAQ:LPRO) Short Interest Update

Open Lending Corporation (NASDAQ:LPRO) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 2,067,834 shares, a drop of 38.1% from the June 30th total of 3,342,444 shares. Based on an average daily volume of 2,643,906 shares, the short-interest ratio is presently 0.8 days. Approximately 2.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $3.15 price objective (up from $3.00) on shares of Open Lending in a report on Friday, June 26th. Wall Street Zen cut shares of Open Lending from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. Northland Securities set a $3.15 price target on Open Lending in a research report on Wednesday, June 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.77.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. bought a new stake in shares of Open Lending in the fourth quarter valued at about $28,000. Prudential Financial Inc. acquired a new position in Open Lending in the 2nd quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd acquired a new position in Open Lending in the 1st quarter valued at approximately $43,000. Cerity Partners LLC bought a new stake in shares of Open Lending in the 2nd quarter worth approximately $44,000. Finally, R Squared Ltd grew its holdings in shares of Open Lending by 32.7% during the 4th quarter. R Squared Ltd now owns 28,590 shares of the company’s stock worth $44,000 after purchasing an additional 7,047 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Stock Performance

Shares of Open Lending stock traded up $0.01 during midday trading on Thursday, hitting $3.15. The company had a trading volume of 1,018,701 shares, compared to its average volume of 2,132,950. The business’s 50 day simple moving average is $2.79 and its two-hundred day simple moving average is $2.02. The stock has a market cap of $370.10 million, a PE ratio of -78.62 and a beta of 2.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. Open Lending has a 1-year low of $1.17 and a 1-year high of $3.15.

Open Lending (NASDAQ:LPRO) last released its earnings results on Thursday, May 7th. The company reported ($0.00) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The company had revenue of $20.49 million for the quarter, compared to analyst estimates of $20.41 million. As a group, equities analysts predict that Open Lending will post 0.08 EPS for the current fiscal year.

Open Lending Company Profile

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.