Open Lending Corporation (NASDAQ:LPRO) Short Interest Update

Open Lending Corporation (NASDAQ:LPRO) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 2,067,834 shares, a drop of 38.1% from the June 30th total of 3,342,444 shares. Based on an average daily trading volume, of 2,643,906 shares, the short-interest ratio is presently 0.8 days. Currently, 2.0% of the company’s shares are sold short.

Institutional Trading of Open Lending

Several institutional investors and hedge funds have recently modified their holdings of LPRO. Prudential Financial Inc. purchased a new stake in shares of Open Lending during the 2nd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Open Lending during the first quarter worth about $43,000. D.A. Davidson & CO. acquired a new position in shares of Open Lending in the fourth quarter valued at about $28,000. Caxton Associates LLP purchased a new position in shares of Open Lending during the 1st quarter valued at about $54,000. Finally, Cerity Partners LLC purchased a new position in shares of Open Lending in the 2nd quarter valued at about $44,000. 78.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on LPRO shares. Wall Street Zen downgraded Open Lending from a “hold” rating to a “sell” rating in a report on Sunday, June 14th. DA Davidson reaffirmed a “neutral” rating and set a $3.15 price target (up from $3.00) on shares of Open Lending in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a report on Tuesday, June 9th. Finally, Northland Securities set a $3.15 price objective on Open Lending in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Open Lending has a consensus rating of “Hold” and an average target price of $2.77.

Open Lending Trading Up 0.2%

LPRO stock traded up $0.01 during trading on Friday, reaching $3.15. The company had a trading volume of 1,018,701 shares, compared to its average volume of 1,899,249. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.44 and a quick ratio of 4.44. The company has a market cap of $370.09 million, a P/E ratio of -78.62 and a beta of 2.19. The business has a 50 day moving average of $2.81 and a 200 day moving average of $2.03. Open Lending has a 52 week low of $1.17 and a 52 week high of $3.15.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.00) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). The company had revenue of $20.49 million during the quarter, compared to analysts’ expectations of $20.41 million. Open Lending had a positive return on equity of 7.53% and a negative net margin of 5.95%. As a group, sell-side analysts forecast that Open Lending will post 0.08 earnings per share for the current fiscal year.

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.