Open Lending Co. (NASDAQ:LPRO - Get Free Report)'s stock price was down 4.2% on Thursday . The stock traded as low as $5.93 and last traded at $5.94. Approximately 38,540 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 414,246 shares. The stock had previously closed at $6.20.
Analysts Set New Price Targets
Separately, Needham & Company LLC restated a "hold" rating on shares of Open Lending in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.83.
Check Out Our Latest Analysis on LPRO
Open Lending Stock Performance
The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $702.97 million, a price-to-earnings ratio of 196.33, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The firm's fifty day moving average price is $6.04 and its 200 day moving average price is $5.91.
Hedge Funds Weigh In On Open Lending
Institutional investors have recently bought and sold shares of the company. EVR Research LP acquired a new position in shares of Open Lending in the second quarter worth $2,758,000. King Luther Capital Management Corp purchased a new stake in Open Lending during the 2nd quarter worth about $558,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Open Lending in the 3rd quarter valued at about $1,153,000. Royce & Associates LP boosted its stake in shares of Open Lending by 152.1% in the 3rd quarter. Royce & Associates LP now owns 481,640 shares of the company's stock valued at $2,948,000 after buying an additional 290,602 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Open Lending during the third quarter worth about $91,000. 78.06% of the stock is owned by institutional investors and hedge funds.
Open Lending Company Profile
(
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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.
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