B. Riley Initiates Coverage on Onespan (NASDAQ:OSPN)

Key Points

• B. Riley has started coverage on Onespan (NASDAQ:OSPN) with a "buy" rating and a price target of $23.00, suggesting a potential upside of approximately 59.25% from the current stock price.
• Director Marc Zenner and another director bought shares of Onespan stock, indicating insider confidence in the company’s future performance.
• Institutional investors now hold 95.52% of Onespan's stock, reflecting strong confidence from major financial entities in the company's market positioning.

Research analysts at B. Riley began coverage on shares of Onespan (NASDAQ:OSPN - Get Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $23.00 price target on the stock. B. Riley's price objective indicates a potential upside of 59.25% from the stock's current price.

A number of other equities research analysts have also weighed in on the stock. Rosenblatt Securities cut their target price on shares of Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen lowered shares of Onespan from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Onespan currently has an average rating of "Buy" and a consensus target price of $19.67.

Onespan Trading Down 0.8%

Shares of OSPN opened at $14.4430 on Tuesday. The firm's 50-day moving average price is $15.26 and its 200-day moving average price is $15.76. The firm has a market capitalization of $553.60 million, a price-to-earnings ratio of 9.54 and a beta of 1.12. Onespan has a 1-year low of $12.51 and a 1-year high of $20.36.

Insider Activity at Onespan

In other Onespan news, Director Marc Zenner bought 2,200 shares of Onespan stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $12.80 per share, with a total value of $28,160.00. Following the completion of the acquisition, the director owned 71,273 shares in the company, valued at approximately $912,294.40. This represents a 3.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Garry L. Capers bought 2,000 shares of Onespan stock in a transaction on Friday, August 8th. The shares were acquired at an average cost of $13.07 per share, with a total value of $26,140.00. Following the completion of the acquisition, the director owned 36,894 shares of the company's stock, valued at $482,204.58. The trade was a 5.73% increase in their position. The disclosure for this purchase can be found here. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Onespan

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Onespan by 1.2% during the second quarter. Legal & General Group Plc now owns 2,370,774 shares of the company's stock worth $39,568,000 after acquiring an additional 28,219 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Onespan by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,341,305 shares of the company's stock worth $35,709,000 after acquiring an additional 177,011 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Onespan by 9.8% during the second quarter. Ameriprise Financial Inc. now owns 2,030,571 shares of the company's stock worth $33,890,000 after acquiring an additional 181,094 shares during the last quarter. First Trust Advisors LP lifted its position in Onespan by 16.0% during the second quarter. First Trust Advisors LP now owns 1,712,158 shares of the company's stock valued at $28,576,000 after purchasing an additional 236,109 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Onespan by 21.3% during the second quarter. Acadian Asset Management LLC now owns 985,370 shares of the company's stock valued at $16,438,000 after purchasing an additional 173,185 shares during the last quarter. 95.52% of the stock is currently owned by institutional investors.

About Onespan

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.

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