Open Lending (NASDAQ:LPRO) Stock Price Down 4.4% – What’s Next?

by · The Cerbat Gem

Open Lending Co. (NASDAQ:LPRO – Get Free Report)’s share price traded down 4.4% on Thursday . The stock traded as low as $5.71 and last traded at $5.71. 61,635 shares were traded during mid-day trading, a decline of 85% from the average session volume of 412,722 shares. The stock had previously closed at $5.97.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on Open Lending

Open Lending Price Performance

The company has a 50-day moving average of $6.08 and a 200-day moving average of $5.86. 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 has a market cap of $697.00 million, a price-to-earnings ratio of 194.67, a PEG ratio of 2.46 and a beta of 1.16.

Hedge Funds Weigh In On Open Lending

A number of large investors have recently bought and sold shares of LPRO. Bank of New York Mellon Corp increased its stake in shares of Open Lending by 12.1% during the second quarter. Bank of New York Mellon Corp now owns 386,306 shares of the company’s stock worth $2,156,000 after acquiring an additional 41,792 shares during the period. Arizona State Retirement System grew its holdings in Open Lending by 32.2% during the second quarter. Arizona State Retirement System now owns 28,288 shares of the company’s stock worth $158,000 after acquiring an additional 6,896 shares during the period. Federated Hermes Inc. grew its stake in shares of Open Lending by 9.2% during the 2nd quarter. Federated Hermes Inc. now owns 95,418 shares of the company’s stock worth $532,000 after purchasing an additional 8,010 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Open Lending by 48.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 108,951 shares of the company’s stock valued at $608,000 after purchasing an additional 35,435 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Open Lending in the second quarter valued at about $558,000. Hedge funds and other institutional investors own 78.06% of the company’s stock.

About Open Lending

(Get Free Report)

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.

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