Short Interest in OneSpan Inc. (NASDAQ:OSPN) Decreases By 29.3%

OneSpan Inc. (NASDAQ:OSPN - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,040,000 shares, a drop of 29.3% from the March 15th total of 1,470,000 shares. Based on an average trading volume of 407,900 shares, the short-interest ratio is currently 2.5 days. Approximately 2.9% of the company's shares are short sold.

Insider Buying and Selling at OneSpan

In related news, Director Michael J. Mcconnell purchased 5,000 shares of the company's stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $9.83 per share, for a total transaction of $49,150.00. Following the completion of the transaction, the director now directly owns 73,849 shares in the company, valued at $725,935.67. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.78% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC acquired a new position in OneSpan during the 1st quarter worth approximately $367,000. FMR LLC grew its holdings in OneSpan by 80.0% during the 1st quarter. FMR LLC now owns 2,084 shares of the company's stock worth $36,000 after acquiring an additional 926 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in OneSpan by 267.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,732 shares of the company's stock worth $31,000 after acquiring an additional 1,989 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of OneSpan by 15,900.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,520 shares of the company's stock worth $38,000 after buying an additional 3,498 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in shares of OneSpan during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 95.52% of the company's stock.

OneSpan Stock Down 3.6 %

NASDAQ OSPN traded down $0.37 on Friday, hitting $10.02. 182,479 shares of the stock were exchanged, compared to its average volume of 398,079. OneSpan has a fifty-two week low of $7.64 and a fifty-two week high of $18.61. The company has a market cap of $378.66 million, a PE ratio of -13.54 and a beta of 0.80. The company has a 50-day moving average price of $10.44 and a 200-day moving average price of $10.16.

OneSpan (NASDAQ:OSPN - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.17. OneSpan had a negative net margin of 12.68% and a negative return on equity of 6.43%. The company had revenue of $62.93 million during the quarter. As a group, equities research analysts predict that OneSpan will post 0.71 EPS for the current fiscal year.

Analyst Ratings Changes

OSPN has been the subject of a number of research reports. StockNews.com upgraded shares of OneSpan from a "hold" rating to a "buy" rating in a report on Wednesday. Sidoti cut shares of OneSpan from a "buy" rating to a "neutral" rating and set a $12.00 price objective for the company. in a report on Tuesday, April 2nd.

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.