OneSpan Inc. (NASDAQ:OSPN) Sees Significant Drop in Short Interest

OneSpan Inc. (NASDAQ:OSPN - Get Free Report) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 1,100,000 shares, a decrease of 16.7% from the January 15th total of 1,320,000 shares. Based on an average daily volume of 385,400 shares, the days-to-cover ratio is currently 2.9 days. Currently, 3.3% of the company's shares are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com upgraded OneSpan from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 4th. Sidoti raised OneSpan from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $14.00 to $19.00 in a research report on Thursday, October 31st. Finally, Rosenblatt Securities upped their price target on OneSpan from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Monday, December 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $17.63.

Insider Buying and Selling

In related news, Director Michael J. Mcconnell sold 53,000 shares of OneSpan stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.51, for a total transaction of $981,030.00. Following the transaction, the director now owns 20,849 shares in the company, valued at approximately $385,914.99. The trade was a 71.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On OneSpan

Hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd bought a new stake in shares of OneSpan in the fourth quarter worth $37,000. New York State Teachers Retirement System acquired a new position in OneSpan during the 4th quarter worth $64,000. Covestor Ltd bought a new stake in shares of OneSpan in the 3rd quarter worth about $65,000. Steward Partners Investment Advisory LLC acquired a new position in OneSpan in the fourth quarter worth about $109,000. Finally, State of Tennessee Department of Treasury bought a new stake in OneSpan in the fourth quarter valued at about $147,000. 95.52% of the stock is currently owned by hedge funds and other institutional investors.

OneSpan Stock Down 5.0 %

Shares of OneSpan stock traded down $0.99 during trading hours on Wednesday, hitting $18.81. 469,536 shares of the company's stock traded hands, compared to its average volume of 381,988. OneSpan has a twelve month low of $9.22 and a twelve month high of $20.36. The company has a market cap of $714.59 million, a PE ratio of 25.42 and a beta of 0.77. The stock has a 50 day simple moving average of $19.00 and a 200-day simple moving average of $17.16.

OneSpan Announces Dividend

The firm also recently disclosed a -- dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, January 31st. OneSpan's dividend payout ratio (DPR) is presently 64.86%.

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.