Open Lending (NASDAQ:LPRO) Trading Down 5.1% – Here’s Why

Open Lending Co. (NASDAQ:LPRO)’s share price traded down 5.1% during trading on Friday . The company traded as low as $6.02 and last traded at $6.05. 212,112 shares were traded during trading, a decline of 41% from the average session volume of 360,305 shares. The stock had previously closed at $6.37.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Open Lending has a consensus rating of “Moderate Buy” and an average target price of $6.83.

Open Lending Trading Down 5.6 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 9.42 and a current ratio of 9.42. The company’s 50-day moving average price is $5.80 and its 200-day moving average price is $5.83. The firm has a market capitalization of $717.89 million, a PE ratio of 200.50 and a beta of 1.16.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). Open Lending had a return on equity of 2.15% and a net margin of 4.78%. The business had revenue of $23.48 million for the quarter, compared to analyst estimates of $29.46 million. During the same period in the prior year, the company posted $0.02 earnings per share. On average, sell-side analysts expect that Open Lending Co. will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Open Lending

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd purchased a new position in shares of Open Lending during the fourth quarter worth about $25,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Open Lending in the 2nd quarter valued at about $33,000. Blue Trust Inc. grew its stake in Open Lending by 208.2% during the 3rd quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after buying an additional 7,093 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Open Lending during the third quarter worth approximately $68,000. Finally, Intech Investment Management LLC purchased a new stake in Open Lending in the third quarter valued at approximately $91,000. 78.06% of the stock is currently owned by institutional investors and hedge funds.

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.