Open Lending (NASDAQ:LPRO) Trading Up 6.4% – Time to Buy?

Open Lending Co. (NASDAQ:LPRO)’s stock price shot up 6.4% during trading on Tuesday . The stock traded as high as $5.55 and last traded at $5.59. 114,711 shares were traded 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.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of Open Lending in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Open Lending presently has a consensus rating of “Hold” and an average price target of $6.83.

Open Lending Stock Up 7.4 %

The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $673.13 million, a price-to-earnings ratio of 188.00 and a beta of 1.16. The stock has a 50 day moving average of $5.80 and a 200 day moving average of $5.82.

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

Institutional Investors Weigh In On Open Lending

A number of institutional investors have recently modified their holdings of LPRO. Wasatch Advisors LP grew its holdings in shares of Open Lending by 1.4% during the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after purchasing an additional 222,969 shares during the last quarter. State Street Corp boosted its position in Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock valued at $15,580,000 after purchasing an additional 63,450 shares during the period. Geode Capital Management LLC grew its stake in Open Lending by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock worth $14,478,000 after buying an additional 68,721 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Open Lending by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock worth $5,153,000 after buying an additional 31,434 shares during the period. Finally, Sei Investments Co. lifted its stake in Open Lending by 9.4% in the second quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock valued at $2,973,000 after buying an additional 45,959 shares during the last quarter. Institutional investors 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.