Onespan Inc (NASDAQ:OSPN) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,070,000 shares, an increase of 7.0% from the January 15th total of 1,000,000 shares. Based on an average daily volume of 271,800 shares, the days-to-cover ratio is presently 3.9 days. Approximately 3.3% of the shares of the stock are short sold.
NASDAQ:OSPN traded up $0.26 during mid-day trading on Friday, reaching $18.24. 125,464 shares of the company were exchanged, compared to its average volume of 238,317. Onespan has a 12 month low of $12.81 and a 12 month high of $21.61. The company has a fifty day moving average of $18.00 and a 200 day moving average of $16.37. The company has a quick ratio of 2.50, a current ratio of 2.77 and a debt-to-equity ratio of 0.04. The stock has a market cap of $722.81 million, a PE ratio of 91.20, a PEG ratio of 2.78 and a beta of 2.02.
OSPN has been the topic of a number of research analyst reports. TheStreet raised shares of Onespan from a “c-” rating to a “b-” rating in a report on Tuesday, October 29th. Zacks Investment Research lowered shares of Onespan from a “buy” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.25.
In other news, Director T Kendall Hunt sold 134,219 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $20.18, for a total value of $2,708,539.42. Following the sale, the director now owns 5,522,150 shares of the company’s stock, valued at approximately $111,436,987. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. NEXT Financial Group Inc acquired a new position in Onespan during the 4th quarter valued at about $67,000. Meeder Asset Management Inc. acquired a new position in Onespan during the 4th quarter valued at about $95,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Onespan during the 4th quarter valued at about $97,000. Acadian Asset Management LLC acquired a new position in Onespan during the 4th quarter valued at about $107,000. Finally, Victory Capital Management Inc. lifted its position in Onespan by 35.8% during the 4th quarter. Victory Capital Management Inc. now owns 6,984 shares of the company’s stock valued at $120,000 after purchasing an additional 1,843 shares during the period. 68.71% of the stock is currently owned by hedge funds and other institutional investors.
OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.
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