Open Lending (NASDAQ:LPRO) Stock Price Down 4.2% – What’s Next?

Shares of Open Lending Co. (NASDAQ:LPRO) fell 4.2% during mid-day trading on Thursday . The company traded as low as $5.93 and last traded at $5.94. 38,540 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 414,246 shares. The stock had previously closed at $6.20.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.83.

Open Lending Trading Down 0.3 %

The firm has a market cap of $700.58 million, a P/E ratio of 195.67, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The company’s fifty day moving average price is $6.04 and its two-hundred day moving average price is $5.91. The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Trading of Open Lending

Several hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in Open Lending during the 2nd quarter worth approximately $33,000. Blue Trust Inc. grew its holdings in shares of Open Lending by 208.2% during the third quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock worth $59,000 after purchasing an additional 7,093 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Open Lending in the third quarter valued at $68,000. SlateStone Wealth LLC bought a new position in shares of Open Lending in the second quarter valued at about $70,000. Finally, Intech Investment Management LLC acquired a new position in Open Lending during the 3rd quarter worth about $91,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Company Profile

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.