Open Lending (NASDAQ:LPRO) Hits New 12-Month Low – Should You Sell?

Open Lending Co. (NASDAQ:LPRO) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.27 and last traded at $4.35, with a volume of 184869 shares trading hands. The stock had previously closed at $4.50.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC raised shares of Open Lending from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.83.

Open Lending Stock Performance

The firm has a fifty day simple moving average of $5.44 and a 200 day simple moving average of $5.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 9.42. The company has a market cap of $520.96 million, a price-to-earnings ratio of 145.83 and a beta of 1.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. R Squared Ltd acquired a new position in Open Lending during the 4th quarter valued at $25,000. Quantbot Technologies LP bought a new stake in shares of Open Lending in the 4th quarter valued at approximately $54,000. Quantinno Capital Management LP acquired a new position in shares of Open Lending in the 3rd quarter worth approximately $68,000. Ameriprise Financial Inc. acquired a new stake in Open Lending in the 4th quarter valued at $80,000. Finally, BNP Paribas Financial Markets bought a new stake in Open Lending in the fourth quarter valued at $87,000. Institutional investors and hedge funds own 78.06% of the company’s stock.

Open Lending Company Profile

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.