OneSpan (NASDAQ:OSPN) Sets New 52-Week High - Here's Why

OneSpan Inc. (NASDAQ:OSPN - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $17.38 and last traded at $17.08, with a volume of 44177 shares traded. The stock had previously closed at $14.56.

Analyst Ratings Changes

OSPN has been the topic of several analyst reports. Sidoti raised OneSpan from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $19.00 in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of OneSpan in a report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.13.

OneSpan Stock Performance

The company has a market cap of $631.27 million, a PE ratio of -92.06 and a beta of 0.76. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $13.85.

OneSpan (NASDAQ:OSPN - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.08. The company had revenue of $60.92 million during the quarter. OneSpan had a net margin of 6.60% and a return on equity of 18.69%. During the same quarter in the previous year, the business earned ($0.27) EPS. As a group, equities analysts anticipate that OneSpan Inc. will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On OneSpan

A number of hedge funds and other institutional investors have recently made changes to their positions in OSPN. Quarry LP grew its holdings in OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company's stock worth $28,000 after acquiring an additional 1,936 shares in the last quarter. Quest Partners LLC lifted its position in shares of OneSpan by 2,952.6% in the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company's stock worth $31,000 after purchasing an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of OneSpan during the second quarter valued at approximately $41,000. Point72 Asset Management L.P. purchased a new position in OneSpan during the second quarter valued at approximately $74,000. Finally, CWM LLC raised its stake in OneSpan by 872.1% in the second quarter. CWM LLC now owns 6,241 shares of the company's stock worth $80,000 after buying an additional 5,599 shares in the last quarter. Institutional investors own 95.52% of the company's stock.

About OneSpan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.