Open Lending (NASDAQ:LPRO) Stock Price Up 6.4% – Should You Buy?

Open Lending Co. (NASDAQ:LPRO)’s share price rose 6.4% during trading on Tuesday . The stock traded as high as $5.55 and last traded at $5.59. Approximately 114,711 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 279,987 shares. The stock had previously closed at $5.25.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC upgraded Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.83.

Open Lending Stock Up 1.1 %

The stock has a market cap of $760.26 million, a price-to-earnings ratio of 212.33 and a beta of 1.16. 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 stock has a fifty day moving average of $5.80 and a two-hundred day moving average of $5.82.

Open Lending (NASDAQ:LPRO) last issued its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $23.48 million for the quarter, compared to analysts’ expectations 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 firm posted $0.02 EPS. As a group, analysts predict that Open Lending Co. will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LPRO. Sei Investments Co. raised its holdings in shares of Open Lending by 9.4% during the 2nd 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 period. Cubist Systematic Strategies LLC acquired a new position in shares of Open Lending during the second quarter worth $33,000. The Manufacturers Life Insurance Company boosted its stake in shares of Open Lending by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 41,152 shares of the company’s stock valued at $230,000 after purchasing an additional 2,631 shares during the period. Algert Global LLC boosted its holdings in Open Lending by 3.7% in the second quarter. Algert Global LLC now owns 398,913 shares of the company’s stock valued at $2,226,000 after purchasing an additional 14,191 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Open Lending during the 2nd quarter worth approximately $110,000. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.