Open Lending Corporation (NASDAQ:LPRO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Open Lending Corporation (NASDAQ:LPRO) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $3.10.

Several research firms have recently weighed in on LPRO. Raymond James Financial reiterated an “outperform” rating and set a $2.80 price target (up previously from $2.50) on shares of Open Lending in a research note on Thursday, August 7th. Stephens started coverage on Open Lending in a research note on Thursday, June 12th. They set an “equal weight” rating and a $2.50 price target for the company.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LPRO. LB Partners LLC bought a new position in Open Lending in the 2nd quarter worth about $9,799,000. Palogic Value Management L.P. boosted its stake in Open Lending by 440.0% in the 2nd quarter. Palogic Value Management L.P. now owns 5,900,000 shares of the company’s stock worth $11,446,000 after purchasing an additional 4,807,323 shares during the period. Ethos Financial Group LLC bought a new position in Open Lending in the 1st quarter worth about $8,139,000. Cannell Capital LLC boosted its stake in Open Lending by 87.1% in the 2nd quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock worth $6,977,000 after purchasing an additional 1,674,646 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Open Lending by 9.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,901,127 shares of the company’s stock worth $38,368,000 after purchasing an additional 1,245,763 shares during the period. Institutional investors own 78.06% of the company’s stock.

Open Lending Trading Up 1.4%

Shares of Open Lending stock opened at $2.16 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 5.67 and a quick ratio of 5.67. The firm has a market cap of $255.25 million, a PE ratio of -1.83 and a beta of 1.83. Open Lending has a 1 year low of $0.70 and a 1 year high of $6.92. The stock has a fifty day moving average price of $2.26 and a 200-day moving average price of $2.18.

Open Lending (NASDAQ:LPRO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $25.31 million during the quarter, compared to the consensus estimate of $23.63 million. Equities research analysts anticipate that Open Lending will post 0.1 EPS for the current year.

About Open Lending

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.