Onespan Inc (OSPN) Sees Significant Growth in Short Interest

Onespan Inc (NASDAQ:OSPN) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,106,258 shares, an increase of 40.4% from the October 15th total of 787,834 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 266,764 shares, the short-interest ratio is presently 4.1 days.

Several research analysts recently issued reports on OSPN shares. ValuEngine lowered Onespan from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Onespan from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Imperial Capital raised Onespan from an “in-line” rating to an “outperform” rating and set a $19.00 target price for the company in a research report on Monday, November 5th.

Shares of NASDAQ:OSPN opened at $16.32 on Friday. The firm has a market cap of $638.06 million, a P/E ratio of 37.95, a P/E/G ratio of 4.88 and a beta of 1.76. Onespan has a 12-month low of $11.55 and a 12-month high of $25.45.

Onespan (NASDAQ:OSPN) last announced its earnings results on Tuesday, October 30th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.04). The company had revenue of $52.50 million for the quarter, compared to the consensus estimate of $54.09 million. Onespan had a positive return on equity of 6.38% and a negative net margin of 12.85%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Onespan will post 0.33 earnings per share for the current year.

In related news, Director T Kendall Hunt sold 282,486 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $17.70, for a total transaction of $5,000,002.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 471,735 shares of company stock valued at $8,392,124. 22.48% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Onespan by 8.1% in the 3rd quarter. BlackRock Inc. now owns 4,568,481 shares of the company’s stock worth $87,030,000 after acquiring an additional 342,745 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Onespan in the 2nd quarter worth about $27,478,000. Legal & General Group Plc bought a new position in shares of Onespan in the 2nd quarter worth about $27,352,000. Private Capital Management LLC bought a new position in shares of Onespan in the 2nd quarter worth about $20,529,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Onespan by 242.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 600,000 shares of the company’s stock worth $11,535,000 after acquiring an additional 425,000 shares in the last quarter. 61.42% of the stock is owned by hedge funds and other institutional investors.

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About Onespan

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. It enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. The company offers DIGIPASS software authenticators that balance the need for stronger mobile application security; DIGIPASS for Apps, a software development kit, which allows application developers to natively integrate security features; DIGIPASS for Mobile, a mobile authenticator that operates as a discrete mobile application; IDENTIKEY Risk Manager, an anti-fraud solution; and application shielding with runtime application self-protection that neutralizes the threat of attacks on mobile apps.

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