Open Lending (NASDAQ:LPRO) Stock Price Down 6.8% – Time to Sell?

Open Lending Co. (NASDAQ:LPRO)’s share price fell 6.8% during mid-day trading on Tuesday . The stock traded as low as $5.93 and last traded at $5.93. 143,444 shares changed hands during trading, a decline of 66% from the average session volume of 421,249 shares. The stock had previously closed at $6.36.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LPRO. Needham & Company LLC reiterated a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. JMP Securities dropped their target price on shares of Open Lending from $8.00 to $7.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. DA Davidson dropped their target price on shares of Open Lending from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Morgan Stanley lowered their price objective on shares of Open Lending from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.83.

Open Lending Trading Down 6.0 %

The stock has a market capitalization of $713.71 million, a P/E ratio of 199.33, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16. 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’s fifty day moving average price is $6.01 and its two-hundred day moving average price is $5.94.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its position in Open Lending by 1.4% during the 3rd quarter. Wasatch Advisors LP now owns 16,630,780 shares of the company’s stock valued at $101,780,000 after purchasing an additional 222,969 shares during the period. State Street Corp boosted its stake in Open Lending by 2.6% in the 3rd quarter. State Street Corp now owns 2,545,783 shares of the company’s stock worth $15,580,000 after purchasing an additional 63,450 shares in the last quarter. Geode Capital Management LLC lifted its stake in Open Lending by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,365,266 shares of the company’s stock valued at $14,478,000 after acquiring an additional 68,721 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Open Lending by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 841,913 shares of the company’s stock valued at $5,153,000 after acquiring an additional 31,434 shares during the period. Finally, Sei Investments Co. lifted its stake in Open Lending by 9.4% during the 2nd quarter. Sei Investments Co. now owns 532,852 shares of the company’s stock valued at $2,973,000 after acquiring an additional 45,959 shares during the period. 78.06% of the stock is owned by hedge funds and other institutional investors.

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.