During the recent session, Open Lending Corporation (NASDAQ:LPRO)’s traded shares were 0.7 million, with the beta value of the company hitting 0.67. At the last check today, the stock’s price was $11.07, reflecting an intraday gain of 2.12% or $0.23. The 52-week high for the LPRO share is $42.96, that puts it down -288.08 from that peak though still a striking 17.62% gain since the share price plummeted to a 52-week low of $9.12. The company’s market capitalization is $1.35B, and the average intraday trading volume over the past 10 days was 0.88 million shares, and the average trade volume was 929.77K shares over the past three months.
Open Lending Corporation (LPRO) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. LPRO has a Sell rating from 1 analyst(s) out of 11 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.17.
Open Lending Corporation (NASDAQ:LPRO) trade information
Open Lending Corporation (LPRO) registered a 2.12% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.12% in intraday trading to $11.07 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 5.96%, and it has moved by 3.53% in 30 days. Based on these gigs, the overall price performance for the year is -69.92%. The short interest in Open Lending Corporation (NASDAQ:LPRO) is 7.83 million shares and it means that shorts have 6.9 day(s) to cover.
The consensus price target of analysts on Wall Street is $22.90, which implies an increase of 51.66% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8.00 and $55.00 respectively. As a result, LPRO is trading at a discount of -396.84% off the target high and 27.73% off the low.
Open Lending Corporation (LPRO) estimates and forecasts
Statistics show that Open Lending Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Open Lending Corporation (LPRO) shares have gone down -40.57% during the last six months, with a year-to-date growth rate less than the industry average at -31.90% against -16.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -71.70% this quarter and then drop -8.70% in the quarter after that. In the rating firms’ projections, revenue will increase 1.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $48.62 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $58.09 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $61.12 million and $54.69 million respectively. In this case, analysts expect current quarter sales to shrink by -20.50% and then jump by 6.20% in the coming quarter.
While earnings are projected to return 205.60% in 2022.
Open Lending Corporation is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Open Lending Corporation (NASDAQ:LPRO)’s Major holders
Open Lending Corporation insiders own 5.13% of total outstanding shares while institutional holders control 90.88%, with the float percentage being 95.80%. Wasatch Advisors Inc is the largest shareholder of the company, while 276 institutions own stock in it. As of Mar 30, 2022, the company held over 16.69 million shares (or 13.22% of all shares), a total value of $315.61 million in shares.
The next largest institutional holding, with 9.89 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 7.83% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $186.97 million.
Also, the Mutual Funds coming in first place with the largest holdings of Open Lending Corporation (LPRO) shares are Vanguard Total Stock Market Index Fund and Wasatch Core Growth Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.2 million shares. This amounts to just over 2.54 percent of the company’s overall shares, with a $60.53 million market value. The same data shows that the other fund manager holds slightly less at 3.0 million, or about 2.37% of the stock, which is worth about $56.67 million.