Open Lending (NASDAQ:LPRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Open Lending (NASDAQ:LPRO) to a sell rating in a report published on Saturday morning.

Several other equities analysts also recently weighed in on LPRO. Northland Securities set a $3.15 target price on Open Lending in a research report on Wednesday, June 17th. DA Davidson reissued a “neutral” rating and set a $3.15 price target (up from $3.00) on shares of Open Lending in a research report on Friday, June 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.77.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $3.14 on Friday. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The business has a 50 day moving average of $2.85 and a two-hundred day moving average of $2.04. Open Lending has a 12-month low of $1.17 and a 12-month high of $3.15. The company has a market capitalization of $369.50 million, a PE ratio of -78.50 and a beta of 2.19.

Open Lending (NASDAQ:LPRO) last issued its quarterly 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 positive return on equity of 7.53% and a negative net margin of 5.95%.The company had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. As a group, analysts forecast that Open Lending will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Open Lending

A number of institutional investors and hedge funds have recently made changes to their positions in LPRO. Wasatch Advisors LP grew its holdings in shares of Open Lending by 11.3% during the first quarter. Wasatch Advisors LP now owns 7,054,107 shares of the company’s stock worth $8,818,000 after buying an additional 716,509 shares during the last quarter. Whetstone Capital Advisors LLC raised its stake in Open Lending by 34.0% during the 4th 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 during the last quarter. LB Partners LLC raised its stake in Open Lending by 2.9% during the 1st quarter. LB Partners LLC now owns 5,400,841 shares of the company’s stock valued at $6,751,000 after acquiring an additional 150,000 shares during the last quarter. Cannell Capital LLC lifted its position in Open Lending by 87.1% during the 2nd quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock worth $6,977,000 after acquiring an additional 1,674,646 shares during the period. Finally, Geode Capital Management LLC lifted its position in Open Lending by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,564,948 shares of the company’s stock worth $4,977,000 after acquiring an additional 98,515 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.