Open Lending (NASDAQ:LPRO) Shares Up 4.2% - What's Next?

Shares of Open Lending Co. (NASDAQ:LPRO - Get Free Report) traded up 4.2% during trading on Tuesday . The stock traded as high as $6.03 and last traded at $6.02. 28,592 shares were traded during trading, a decline of 93% from the average session volume of 411,676 shares. The stock had previously closed at $5.78.

Analyst Upgrades and Downgrades

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 given a buy rating to the company's stock. Based on data from MarketBeat.com, Open Lending presently has a consensus rating of "Hold" and an average target price of $6.83.

Open Lending Stock Up 3.3 %

The stock has a market cap of $712.52 million, a P/E ratio of 199.00, a P/E/G ratio of 2.46 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 company has a 50-day simple moving average of $6.06 and a two-hundred day simple moving average of $5.86.

Institutional Investors Weigh In On Open Lending

Several institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in shares of Open Lending by 1.4% in the third quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company's stock valued at $101,780,000 after acquiring an additional 222,969 shares during the period. State Street Corp increased its holdings in Open Lending by 2.6% during the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company's stock valued at $15,580,000 after purchasing an additional 63,450 shares during the period. Geode Capital Management LLC raised its position in Open Lending by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company's stock valued at $14,478,000 after purchasing an additional 68,721 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Open Lending by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company's stock valued at $5,153,000 after purchasing an additional 31,434 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Open Lending by 9.4% in the 2nd quarter. Sei Investments Co. now owns 532,852 shares of the company's stock worth $2,973,000 after buying an additional 45,959 shares during the period. Hedge funds and other institutional investors 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.