Open Lending (NASDAQ:LPRO) Reaches New 12-Month Low – Here’s What Happened

Open Lending Co. (NASDAQ:LPRO)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $4.27 and last traded at $4.35, with a volume of 184869 shares changing hands. The stock had previously closed at $4.50.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC raised Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Open Lending presently has a consensus rating of “Moderate Buy” and an average target price of $6.83.

Open Lending Stock Up 1.2 %

The business has a fifty day simple moving average of $5.38 and a 200 day simple moving average of $5.74. The firm has a market cap of $514.40 million, a price-to-earnings ratio of 143.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42.

Institutional Investors Weigh In On Open Lending

Several hedge funds and other institutional investors have recently made changes to their positions in LPRO. Royce & Associates LP increased its holdings in shares of Open Lending by 152.1% in the third quarter. Royce & Associates LP now owns 481,640 shares of the company’s stock valued at $2,948,000 after purchasing an additional 290,602 shares during the last quarter. Gilbert & Cook Inc. acquired a new stake in shares of Open Lending in the third quarter valued at approximately $205,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Open Lending in the third quarter valued at approximately $1,153,000. King Luther Capital Management Corp increased its holdings in shares of Open Lending by 100.0% in the third quarter. King Luther Capital Management Corp now owns 200,000 shares of the company’s stock valued at $1,224,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Open Lending in the third quarter valued at approximately $91,000. Institutional investors and hedge funds 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.