Short Interest in Open Lending Corporation (NASDAQ:LPRO) Expands By 23.9%
by Scott Moore · The Cerbat GemOpen Lending Corporation (NASDAQ:LPRO – Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,707,628 shares, an increase of 23.9% from the March 15th total of 2,185,077 shares. Based on an average daily volume of 641,348 shares, the days-to-cover ratio is presently 4.2 days. Approximately 2.7% of the company’s shares are short sold.
Open Lending Stock Performance
Shares of Open Lending stock traded up $0.02 on Friday, reaching $1.71. 548,142 shares of the stock were exchanged, compared to its average volume of 604,449. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.03. Open Lending has a twelve month low of $0.81 and a twelve month high of $2.70. The firm has a market capitalization of $201.23 million, a price-to-earnings ratio of -57.00 and a beta of 2.03. The business has a 50 day moving average price of $1.39 and a two-hundred day moving average price of $1.66.
Open Lending (NASDAQ:LPRO – Get Free Report) last released its earnings results on Thursday, March 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Open Lending had a positive return on equity of 8.83% and a negative net margin of 4.54%.The firm had revenue of $19.35 million for the quarter, compared to analyst estimates of $21.92 million. Analysts anticipate that Open Lending will post 0.1 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its position in Open Lending by 3.6% during the third quarter. Wasatch Advisors LP now owns 6,406,790 shares of the company’s stock valued at $13,518,000 after acquiring an additional 224,183 shares in the last quarter. Whetstone Capital Advisors LLC raised its position in Open Lending by 34.0% during the fourth quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after acquiring an additional 1,525,926 shares in the last quarter. Portolan Capital Management LLC purchased a new position in Open Lending during the third quarter valued at approximately $7,752,000. Cannell Capital LLC raised its position in Open Lending by 87.1% during the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock valued at $6,977,000 after acquiring an additional 1,674,646 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Open Lending by 4.0% during the second quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company’s stock valued at $4,977,000 after acquiring an additional 98,515 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
LPRO has been the subject of several research analyst reports. DA Davidson decreased their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research note on Thursday, January 22nd. Finally, Canaccord Genuity Group restated a “hold” rating and set a $2.00 price target on shares of Open Lending in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.56.
View Our Latest Report on LPRO
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.