Open Lending (NASDAQ:LPRO) Shares Up 0.8% – Still a Buy?

Open Lending Corporation (NASDAQ:LPRO)’s stock price traded up 0.8% during trading on Tuesday . The company traded as high as $1.36 and last traded at $1.34. 345,408 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 544,372 shares. The stock had previously closed at $1.33.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LPRO shares. DA Davidson restated a “buy” rating and set a $4.00 target price on shares of Open Lending in a research report on Tuesday, November 11th. Citigroup reaffirmed a “market perform” rating on shares of Open Lending in a research note on Wednesday, November 12th. Canaccord Genuity Group dropped their target price on Open Lending from $7.00 to $2.00 and set a “hold” rating for the company in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Open Lending in a research report on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Open Lending has a consensus rating of “Hold” and a consensus price target of $2.92.

Open Lending Stock Up 0.8%

The company has a market cap of $158.37 million, a P/E ratio of -1.07 and a beta of 2.05. The company has a 50-day simple moving average of $1.69 and a 200 day simple moving average of $1.84. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 1.74.

Hedge Funds Weigh In On Open Lending

Hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. bought a new stake in shares of Open Lending during the fourth quarter valued at approximately $28,000. Prudential Financial Inc. purchased a new position in Open Lending during the 2nd quarter worth $28,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Open Lending in the 2nd quarter worth $32,000. Thompson Davis & CO. Inc. bought a new position in shares of Open Lending during the 3rd quarter worth $42,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Open Lending during the 1st quarter worth $43,000. 78.06% of the stock is currently owned by institutional investors.

About Open Lending

Open Lending Corporation is a financial technology company specializing in risk analytics and automated loan decisioning for the automotive finance industry. Through its proprietary platform, Open Lending enables banks, credit unions and finance companies to enhance underwriting accuracy, manage risk more effectively and streamline the loan origination process. The company’s solutions leverage machine learning and big-data analytics to deliver credit-based pricing models that help lenders optimize portfolio performance and reduce losses.

The core offerings of Open Lending include an automated underwriting engine, risk-based pricing tools and performance analytics dashboards.