Short Interest in Onespan Inc (OSPN) Drops By 27.0%
Onespan Inc (NASDAQ:OSPN) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 805,225 shares, a drop of 27.0% from the February 15th total of 1,103,301 shares. Based on an average daily volume of 668,981 shares, the short-interest ratio is presently 1.2 days. Currently, 2.5% of the company’s stock are short sold.
Several hedge funds have recently added to or reduced their stakes in OSPN. Royce & Associates LP purchased a new position in shares of Onespan in the 4th quarter worth $73,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Onespan in the 4th quarter worth $116,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Onespan by 294.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,139 shares of the company’s stock worth $144,000 after buying an additional 8,317 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Onespan in the 4th quarter worth $155,000. Finally, Bank of America Corp DE purchased a new position in shares of Onespan in the 2nd quarter worth $187,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research upgraded Onespan from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Friday, March 8th. ValuEngine upgraded Onespan from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. National Securities assumed coverage on Onespan in a research note on Thursday, January 3rd. They set a “buy” rating on the stock. Finally, Sidoti assumed coverage on Onespan in a research note on Monday, December 3rd. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Onespan currently has a consensus rating of “Buy” and a consensus target price of $20.50.
Onespan (NASDAQ:OSPN) last released its quarterly earnings results on Thursday, February 21st. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.10. The firm had revenue of $64.80 million for the quarter, compared to the consensus estimate of $59.94 million. Onespan had a return on equity of 6.71% and a net margin of 1.81%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts predict that Onespan will post 0.44 earnings per share for the current year.
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Onespan Company Profile
OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. It enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. The company offers DIGIPASS software authenticators that balance the need for stronger mobile application security; DIGIPASS for Apps, a software development kit, which allows application developers to natively integrate security features; DIGIPASS for Mobile, a mobile authenticator that operates as a discrete mobile application; IDENTIKEY Risk Manager, an anti-fraud solution; and application shielding with runtime application self-protection that neutralizes the threat of attacks on mobile apps.
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