Open Lending (NASDAQ:LPRO) Shares Gap Down to $6.12

Open Lending Co. (NASDAQ:LPRO - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $6.12, but opened at $5.86. Open Lending shares last traded at $5.91, with a volume of 8,306 shares changing hands.

Analysts Set New Price Targets

LPRO has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Open Lending from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, August 9th. JMP Securities cut their price target on shares of Open Lending from $8.00 to $7.00 and set a "market outperform" rating on the stock in a report on Friday, August 9th. BTIG Research assumed coverage on shares of Open Lending in a report on Friday, June 7th. They issued a "neutral" rating for the company. Needham & Company LLC reissued a "hold" rating on shares of Open Lending in a research report on Wednesday. Finally, DA Davidson reduced their price target on Open Lending from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.56.

Open Lending Trading Down 1.2 %

The company has a quick ratio of 13.32, a current ratio of 13.32 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $5.72 and a 200-day moving average price of $5.82. The company has a market capitalization of $695.92 million, a price-to-earnings ratio of 53.09 and a beta of 1.12.

Open Lending (NASDAQ:LPRO - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Open Lending had a return on equity of 2.90% and a net margin of 6.25%. The business had revenue of $26.73 million for the quarter, compared to analyst estimates of $31.03 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's quarterly revenue was down 29.9% compared to the same quarter last year. Research analysts predict that Open Lending Co. will post 0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Open Lending during the 2nd quarter valued at about $33,000. SlateStone Wealth LLC acquired a new stake in Open Lending during the second quarter valued at approximately $70,000. QRG Capital Management Inc. grew its stake in shares of Open Lending by 24.0% in the 2nd quarter. QRG Capital Management Inc. now owns 14,587 shares of the company's stock valued at $81,000 after purchasing an additional 2,824 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Open Lending in the 2nd quarter worth approximately $110,000. Finally, SkyView Investment Advisors LLC lifted its position in shares of Open Lending by 100.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,000 shares of the company's stock worth $112,000 after buying an additional 10,000 shares during the period. 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.