Open Lending (NASDAQ:LPRO) Lowered to Sell Rating by Wall Street Zen

Open Lending (NASDAQ:LPRO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other brokerages have also issued reports on LPRO. Weiss Ratings reissued a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday. DA Davidson decreased their target price on Open Lending from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 16th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $2.00 target price on shares of Open Lending in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.60.

Open Lending Stock Up 2.3%

Shares of NASDAQ:LPRO opened at $2.18 on Friday. Open Lending has a 52-week low of $1.17 and a 52-week high of $2.70. The firm has a market capitalization of $256.54 million, a P/E ratio of -54.50 and a beta of 2.28. The stock has a 50 day moving average price of $1.84 and a 200-day moving average price of $1.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.44 and a current ratio of 4.44.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LPRO. Portolan Capital Management LLC bought a new position in Open Lending during the 3rd quarter valued at approximately $7,752,000. Cannell Capital LLC increased its position in Open Lending by 87.1% during the 2nd quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock valued at $6,977,000 after buying an additional 1,674,646 shares in the last quarter. Veradace Capital Management LLC bought a new position in Open Lending during the 4th quarter valued at approximately $2,372,000. Whetstone Capital Advisors LLC increased its position in Open Lending by 34.0% during the 4th quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after buying an additional 1,525,926 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Open Lending by 1,577.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 848,424 shares of the company’s stock valued at $1,646,000 after buying an additional 797,852 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

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.