Open Lending (NASDAQ:LPRO) Stock Rating Lowered by DA Davidson

Open Lending (NASDAQ:LPRO) was downgraded by analysts at DA Davidson from a “strong-buy” rating to a “hold” rating in a report released on Friday,Zacks.com reports.

LPRO has been the topic of a number of other research reports. Wall Street Zen lowered shares of Open Lending from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research note on Tuesday, June 9th. Canaccord Genuity Group restated a “hold” rating and issued a $2.00 price objective on shares of Open Lending in a report on Tuesday, March 17th. Finally, Northland Securities set a $3.15 price objective on shares of Open Lending in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.77.

Open Lending Price Performance

Shares of Open Lending stock opened at $3.12 on Friday. The business has a 50 day moving average of $2.16 and a 200 day moving average of $1.78. Open Lending has a 52 week low of $1.17 and a 52 week high of $3.13. The company has a market cap of $367.16 million, a PE ratio of -78.00 and a beta of 2.28. The company has a quick ratio of 4.44, a current ratio of 4.44 and a debt-to-equity ratio of 1.00.

Open Lending (NASDAQ:LPRO) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). Open Lending had a negative net margin of 5.95% and a positive return on equity of 7.53%. The company had revenue of $20.49 million during the quarter, compared to the consensus estimate of $20.41 million. As a group, equities research analysts forecast that Open Lending will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. purchased a new position in Open Lending during the second quarter valued at $28,000. D.A. Davidson & CO. purchased a new stake in shares of Open Lending in the fourth quarter worth $28,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Open Lending during the first quarter valued at $43,000. R Squared Ltd increased its holdings in shares of Open Lending by 32.7% during the fourth quarter. R Squared Ltd now owns 28,590 shares of the company’s stock valued at $44,000 after acquiring an additional 7,047 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Open Lending in the 2nd quarter worth about $44,000. Institutional investors own 78.06% of the company’s stock.

Open Lending Company Profile

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.