Open Lending (NASDAQ:LPRO) Trading Up 0.8% – What’s Next?

Open Lending Corporation (NASDAQ:LPRO)’s share price rose 0.8% during trading on Tuesday . The stock traded as high as $1.36 and last traded at $1.34. Approximately 345,408 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 544,372 shares. The stock had previously closed at $1.33.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Open Lending in a report on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and issued a $4.00 target price on shares of Open Lending in a research note on Tuesday, November 11th. Canaccord Genuity Group lowered their target price on shares of Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Finally, Citigroup reissued a “market perform” rating on shares of Open Lending in a research report on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.92.

Open Lending Price Performance

The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74. The business’s fifty day moving average is $1.68 and its 200 day moving average is $1.84. The company has a market cap of $163.10 million, a P/E ratio of -1.10 and a beta of 2.05.

Institutional Investors Weigh In On Open Lending

Several institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in shares of Open Lending by 6.8% in the fourth quarter. Invesco Ltd. now owns 285,148 shares of the company’s stock worth $442,000 after purchasing an additional 18,118 shares in the last quarter. Veradace Capital Management LLC bought a new stake in Open Lending during the 4th quarter valued at $2,372,000. SkyView Investment Advisors LLC lifted its position in shares of Open Lending by 25.5% during the fourth quarter. SkyView Investment Advisors LLC now owns 150,422 shares of the company’s stock worth $233,000 after acquiring an additional 30,523 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Open Lending by 223.5% during the fourth quarter. Quadrature Capital Ltd now owns 65,376 shares of the company’s stock worth $101,000 after acquiring an additional 45,166 shares in the last quarter. Finally, Man Group plc grew its position in shares of Open Lending by 6.3% in the fourth quarter. Man Group plc now owns 237,313 shares of the company’s stock valued at $368,000 after purchasing an additional 14,011 shares in the last quarter. 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.