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

Open Lending Co. (NASDAQ:LPRO)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.42 and last traded at $4.48, with a volume of 17847 shares changing hands. The stock had previously closed at $4.58.

Analyst Upgrades and Downgrades

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

Open Lending Stock Down 4.7 %

The company has a current ratio of 9.42, a quick ratio of 9.42 and a debt-to-equity ratio of 0.61. The stock has a 50-day simple moving average of $5.60 and a 200-day simple moving average of $5.80. The company has a market cap of $520.96 million, a price-to-earnings ratio of 145.70 and a beta of 1.16.

Institutional Trading of Open Lending

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Open Lending by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,743 shares of the company’s stock worth $1,210,000 after buying an additional 34,740 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Open Lending by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 28,777 shares of the company’s stock worth $172,000 after buying an additional 9,468 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Open Lending by 69.2% in the 4th quarter. Quantinno Capital Management LP now owns 18,736 shares of the company’s stock worth $112,000 after buying an additional 7,664 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Open Lending by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 149,098 shares of the company’s stock worth $890,000 after buying an additional 5,264 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Open Lending by 52.2% during the fourth quarter. Deutsche Bank AG now owns 95,160 shares of the company’s stock worth $568,000 after purchasing an additional 32,634 shares during the period. Institutional investors own 78.06% of the company’s stock.

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.