Open Lending (NASDAQ:LPRO) Sets New 12-Month Low – Should You Sell?

Shares of Open Lending Co. (NASDAQ:LPRO) hit a new 52-week low on Tuesday . The company traded as low as $4.42 and last traded at $4.48, with a volume of 17847 shares changing hands. The stock had previously closed at $4.58.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.83.

Open Lending Trading Down 4.7 %

The business has a fifty day moving average price of $5.60 and a 200 day moving average price of $5.80. The company has a market capitalization of $520.96 million, a PE ratio of 145.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42.

Institutional Investors Weigh In On Open Lending

Several hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP increased its holdings in Open Lending by 0.6% during the 4th quarter. Wasatch Advisors LP now owns 16,736,229 shares of the company’s stock worth $99,915,000 after purchasing an additional 105,449 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Open Lending by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,655,364 shares of the company’s stock worth $75,554,000 after acquiring an additional 920,630 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Open Lending by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 10,178,916 shares of the company’s stock worth $60,768,000 after acquiring an additional 160,617 shares in the last quarter. State Street Corp grew its position in shares of Open Lending by 2.6% in the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after acquiring an additional 63,450 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Open Lending by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,393,519 shares of the company’s stock worth $14,293,000 after acquiring an additional 28,253 shares in the last quarter. 78.06% of the stock is currently owned by hedge funds and other institutional investors.

About Open Lending

Open Lending Corporation provides lending enablement and risk analytics solutions to credit unions, regional banks, finance companies, and captive finance companies of automakers in the United States. The company offers Lenders Protection Program (LPP), which is a cloud-based automotive lending platform that provides loan analytics solutions and automated issuance of credit default insurance with third-party insurance providers.