OneSpan (NASDAQ:OSPN) Trading Up 5.7% Following Analyst Upgrade

Shares of OneSpan Inc. (NASDAQ:OSPN) rose 5.7% during mid-day trading on Monday after Rosenblatt Securities raised their price target on the stock from $18.00 to $22.00. Rosenblatt Securities currently has a buy rating on the stock. OneSpan traded as high as $19.15 and last traded at $19.09. Approximately 46,982 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 401,487 shares. The stock had previously closed at $18.06.

A number of other equities analysts have also weighed in on OSPN. StockNews.com raised shares of OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Sidoti raised shares of OneSpan from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $19.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, OneSpan currently has a consensus rating of “Buy” and an average price target of $17.63.

Insider Buying and Selling

In other news, Director Michael J. Mcconnell sold 53,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.51, for a total transaction of $981,030.00. Following the completion of the transaction, the director now directly owns 20,849 shares in the company, valued at $385,914.99. This represents a 71.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On OneSpan

A number of large investors have recently modified their holdings of OSPN. Quarry LP boosted its stake in shares of OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock worth $28,000 after buying an additional 1,936 shares during the last quarter. Quest Partners LLC boosted its stake in shares of OneSpan by 2,952.6% during the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after buying an additional 2,303 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of OneSpan during the 2nd quarter worth about $41,000. Covestor Ltd bought a new stake in shares of OneSpan in the 3rd quarter valued at about $65,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of OneSpan in the 2nd quarter valued at about $74,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

OneSpan Stock Performance

The stock’s fifty day moving average price is $16.83 and its 200-day moving average price is $15.23. The company has a market capitalization of $735.49 million, a P/E ratio of 26.16 and a beta of 0.77.

OneSpan Company Profile

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, authentication, and secure digital agreements worldwide. The company offers OneSpan Sign, a range of e-signature requirements for occasional agreement to processing tens of thousands of transactions; OneSpan Cloud Authentication, a cloud-based multifactor authentication solution that supports a range of authentication options, including biometrics, push notification, and visual cryptograms for transaction data security, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.