Weiss Ratings Reaffirms Sell (D-) Rating for Open Lending (NASDAQ:LPRO)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Open Lending (NASDAQ:LPRO), indicating a negative outlook on the stock.
• While Weiss maintains a pessimistic view, Raymond James Financial upgraded their rating to "outperform" with a price target of $2.80, reflecting some level of analyst support for the stock.
• Open Lending reported a loss per share of $0.01 in its recent quarterly earnings, falling short of the anticipated $0.02, but surpassed revenue expectations with $25.31 million.

Open Lending (NASDAQ:LPRO - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts have also commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $2.80 price objective (up from $2.50) on shares of Open Lending in a research report on Thursday, August 7th. Stephens initiated coverage on shares of Open Lending in a research report on Thursday, June 12th. They issued an "equal weight" rating and a $2.50 price objective for the company. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.10.

Open Lending Trading Down 1.2%

LPRO stock traded down $0.03 during mid-day trading on Wednesday, reaching $2.02. 35,872 shares of the stock traded hands, compared to its average volume of 1,497,169. The company has a debt-to-equity ratio of 1.63, a quick ratio of 5.67 and a current ratio of 5.67. Open Lending has a one year low of $0.70 and a one year high of $6.92. The stock has a market capitalization of $238.11 million, a PE ratio of -1.71 and a beta of 1.94. The business has a 50-day moving average price of $2.16 and a two-hundred day moving average price of $1.97.

Open Lending (NASDAQ:LPRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The firm had revenue of $25.31 million for the quarter, compared to analysts' expectations of $23.63 million. Equities research analysts expect that Open Lending will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Open Lending

Several hedge funds and other institutional investors have recently bought and sold shares of LPRO. Summit Securities Group LLC acquired a new stake in shares of Open Lending during the 1st quarter worth approximately $32,000. R Squared Ltd acquired a new stake in Open Lending in the 2nd quarter valued at $28,000. Prudential Financial Inc. acquired a new stake in Open Lending in the 2nd quarter valued at $28,000. Teacher Retirement System of Texas acquired a new stake in Open Lending in the 1st quarter valued at $41,000. Finally, Brighton Jones LLC acquired a new stake in Open Lending in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 78.06% of the company's stock.

Open Lending Company Profile

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.

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