Brokerages Set Open Lending Corporation (NASDAQ:LPRO) PT at $2.77

Open Lending Corporation (NASDAQ:LPRO) has earned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.7667.

A number of equities analysts recently commented on LPRO shares. Northland Securities set a $3.15 target price on shares of Open Lending in a research note on Wednesday, June 17th. Wall Street Zen upgraded Open Lending to a “sell” rating in a research note on Saturday, August 1st. DA Davidson reaffirmed a “neutral” rating and set a $3.15 price target (up from $3.00) on shares of Open Lending in a report on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Open Lending in a research report on Tuesday, June 9th.

Institutional Trading of Open Lending

Several institutional investors and hedge funds have recently made changes to their positions in LPRO. BlackRock Inc. purchased a new stake in Open Lending in the second quarter valued at approximately $24,522,000. Glazer Capital LLC acquired a new stake in shares of Open Lending in the second quarter valued at approximately $8,679,000. Cannell Capital LLC grew its position in shares of Open Lending by 87.1% during the second quarter. Cannell Capital LLC now owns 3,596,490 shares of the company’s stock worth $6,977,000 after acquiring an additional 1,674,646 shares during the last quarter. Veradace Capital Management LLC purchased a new position in shares of Open Lending during the fourth quarter worth approximately $2,372,000. Finally, Whetstone Capital Advisors LLC increased its holdings in shares of Open Lending by 34.0% in the 4th quarter. Whetstone Capital Advisors LLC now owns 6,014,667 shares of the company’s stock valued at $9,323,000 after acquiring an additional 1,525,926 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

Open Lending Stock Performance

Shares of NASDAQ:LPRO opened at $3.14 on Thursday. Open Lending has a 52 week low of $1.17 and a 52 week high of $3.15. The company’s 50 day moving average is $3.13 and its two-hundred day moving average is $2.21. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 1.00. The company has a market cap of $369.50 million, a PE ratio of -78.50 and a beta of 2.19.

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.