Open Lending (NASDAQ:LPRO) Stock Price Up 6.4% – What’s Next?

Open Lending Co. (NASDAQ:LPRO)’s stock price traded up 6.4% on Tuesday . The stock traded as high as $5.55 and last traded at $5.59. 114,711 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 279,987 shares. The stock had previously closed at $5.25.

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 target for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.83.

Open Lending Price Performance

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 stock’s fifty day moving average price is $5.80 and its 200-day moving average price is $5.82. The firm has a market cap of $760.26 million, a PE ratio of 212.33 and a beta of 1.16.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $23.48 million for the quarter, compared to analyst estimates of $29.46 million. Open Lending had a net margin of 4.78% and a return on equity of 2.15%. During the same quarter in the previous year, the business posted $0.02 earnings per share. As a group, equities analysts forecast that Open Lending Co. will post 0.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Open Lending

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its position in shares of Open Lending by 3.7% during the 4th quarter. Rhumbline Advisers now owns 146,101 shares of the company’s stock worth $872,000 after purchasing an additional 5,149 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Open Lending by 16.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 50,166 shares of the company’s stock worth $274,000 after buying an additional 7,166 shares in the last quarter. R Squared Ltd acquired a new position in shares of Open Lending in the fourth quarter worth $25,000. Barclays PLC lifted its position in shares of Open Lending by 363.5% in the third quarter. Barclays PLC now owns 169,024 shares of the company’s stock valued at $1,034,000 after acquiring an additional 132,561 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Open Lending by 3.0% during the third quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after acquiring an additional 68,721 shares during the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.

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.