Onespan (NASDAQ:OSPN) Coverage Initiated by Analysts at B. Riley

Key Points

• B. Riley has initiated coverage on Onespan (NASDAQ: OSPN), offering a "buy" rating for the stock.
• Despite a downgrade from Wall Street Zen to a "hold" rating, Onespan has an average rating of "Buy" and a consensus price target of $19.67.
• Insider transactions indicate confidence in the company, with directors purchasing shares, increasing their ownership in Onespan.

Equities researchers at B. Riley began coverage on shares of Onespan (NASDAQ:OSPN - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm set a "buy" rating on the stock.

OSPN has been the topic of several other research reports. Wall Street Zen downgraded shares of Onespan from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Rosenblatt Securities dropped their target price on shares of Onespan from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, Onespan has an average rating of "Buy" and a consensus price target of $19.67.

Onespan Trading Up 1.3%

Onespan stock opened at $14.44 on Monday. The company has a market capitalization of $553.49 million, a P/E ratio of 9.56 and a beta of 1.12. The firm's fifty day simple moving average is $15.24 and its 200-day simple moving average is $15.75. Onespan has a 1-year low of $12.51 and a 1-year high of $20.36.

Insider Transactions at Onespan

In other news, Director Garry L. Capers purchased 2,000 shares of Onespan stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $13.07 per share, for a total transaction of $26,140.00. Following the completion of the transaction, the director directly owned 36,894 shares in the company, valued at approximately $482,204.58. This represents a 5.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marc Zenner purchased 2,200 shares of Onespan stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $12.80 per share, for a total transaction of $28,160.00. Following the completion of the transaction, the director owned 71,273 shares of the company's stock, valued at approximately $912,294.40. This represents a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Onespan

Large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Onespan during the first quarter worth approximately $195,000. Victory Capital Management Inc. lifted its position in shares of Onespan by 49.3% during the first quarter. Victory Capital Management Inc. now owns 86,794 shares of the company's stock worth $1,324,000 after purchasing an additional 28,660 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Onespan by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,561 shares of the company's stock worth $395,000 after purchasing an additional 3,994 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Onespan by 1,501.9% during the first quarter. GAMMA Investing LLC now owns 42,563 shares of the company's stock worth $649,000 after purchasing an additional 39,906 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Onespan by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,174 shares of the company's stock worth $546,000 after purchasing an additional 12,332 shares in the last quarter. 95.52% of the stock is currently owned by institutional investors and hedge funds.

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.