Open Lending (NASDAQ:LPRO) Trading Down 4.7% – Time to Sell?

Open Lending Corporation (NASDAQ:LPRO)’s stock price was down 4.7% on Friday . The company traded as low as $1.58 and last traded at $1.61. Approximately 1,158,493 shares traded hands during trading, an increase of 154% from the average daily volume of 455,269 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Citigroup reaffirmed a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 target price on shares of Open Lending in a report on Tuesday, November 11th. Canaccord Genuity Group reduced their price objective on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Open Lending currently has an average rating of “Hold” and an average price target of $2.92.

Open Lending Stock Down 4.7%

The company has a debt-to-equity ratio of 1.74, a current ratio of 5.59 and a quick ratio of 5.59. The company has a 50-day simple moving average of $1.76 and a 200-day simple moving average of $2.04. The firm has a market cap of $190.29 million, a PE ratio of -1.29 and a beta of 2.04.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $24.17 million for the quarter, compared to analysts’ expectations of $22.15 million. Analysts expect that Open Lending Corporation will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Open Lending

In other news, insider Matthew Sather acquired 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $1.52 per share, for a total transaction of $60,800.00. Following the completion of the acquisition, the insider directly owned 44,363 shares of the company’s stock, valued at $67,431.76. The trade was a 916.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.20% of the stock is owned by insiders.

Institutional Trading of Open Lending

A number of hedge funds have recently bought and sold shares of LPRO. R Squared Ltd purchased a new stake in shares of Open Lending during the 2nd quarter worth $28,000. Prudential Financial Inc. purchased a new position in Open Lending in the 2nd quarter worth $28,000. Brighton Jones LLC purchased a new stake in shares of Open Lending in the 2nd quarter valued at $30,000. Dynamic Technology Lab Private Ltd acquired a new stake in Open Lending during the 1st quarter worth about $43,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Open Lending in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Open Lending

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.