Open Lending (NASDAQ:LPRO) Shares Down 4.4% – Time to Sell?

Open Lending Co. (NASDAQ:LPRO) shares were down 4.4% on Thursday . The company traded as low as $5.71 and last traded at $5.71. Approximately 61,635 shares changed hands during trading, a decline of 85% from the average daily volume of 412,722 shares. The stock had previously closed at $5.97.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Open Lending in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.83.

Open Lending Stock Up 2.3 %

The business’s fifty day moving average is $6.08 and its two-hundred day moving average is $5.86. The stock has a market cap of $697.00 million, a price-to-earnings ratio of 194.67, a PEG ratio of 2.46 and a beta of 1.16. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Open Lending in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. raised its stake in Open Lending by 208.2% in the third quarter. Blue Trust Inc. now owns 10,500 shares of the company’s stock valued at $59,000 after buying an additional 7,093 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in Open Lending in the third quarter valued at $68,000. Intech Investment Management LLC purchased a new stake in Open Lending during the 3rd quarter worth about $91,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Open Lending in the 2nd quarter valued at about $110,000. 78.06% of the stock is owned by institutional investors and hedge funds.

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.