Weiss Ratings Reiterates "Hold (C+)" Rating for Onespan (NASDAQ:OSPN)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Onespan (NASDAQ:OSPN), while other analysts have issued mixed opinions, with one upgrading the stock to "Buy."
• Onespan's stock opened at $16.00 and has shown a twelve-month price range from a low of $12.51 to a high of $20.36.
• Insider trading activity has been notable, with director Garry L. Capers and director Marc Zenner purchasing shares, indicating an increased confidence in the company's future prospects.

Onespan (NASDAQ:OSPN - Get Free Report)'s stock had its "hold (c+)" rating restated by equities research analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Onespan from a "hold" rating to a "buy" rating in a report on Friday, September 5th. B. Riley initiated coverage on shares of Onespan in a report on Tuesday, August 26th. They issued a "buy" rating and a $23.00 price target on the stock. Finally, Rosenblatt Securities cut their price target 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. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.67.

Onespan Stock Up 1.3%

OSPN stock opened at $16.00 on Friday. Onespan has a twelve month low of $12.51 and a twelve month high of $20.36. The stock has a market capitalization of $613.28 million, a price-to-earnings ratio of 10.60 and a beta of 1.32. The firm's fifty day simple moving average is $15.36 and its two-hundred day simple moving average is $15.44.

Insider Activity

In other news, Director Garry L. Capers purchased 2,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $13.07 per share, with a total value of $26,140.00. Following the completion of the transaction, the director owned 36,894 shares in the company, valued at $482,204.58. This represents a 5.73% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marc Zenner acquired 2,200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $12.80 per share, with a total value of $28,160.00. Following the completion of the transaction, the director directly owned 71,273 shares in the company, valued at $912,294.40. The trade was a 3.19% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Onespan

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Onespan in the 3rd quarter valued at approximately $26,000. KLP Kapitalforvaltning AS raised its position in shares of Onespan by 21.8% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 53,600 shares of the company's stock valued at $852,000 after purchasing an additional 9,600 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Onespan in the 3rd quarter valued at approximately $189,000. Copeland Capital Management LLC raised its position in shares of Onespan by 107.4% in the 3rd quarter. Copeland Capital Management LLC now owns 10,204 shares of the company's stock valued at $162,000 after purchasing an additional 5,284 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Onespan in the 3rd quarter valued at approximately $3,029,000. 95.52% of the stock is owned by hedge funds and other institutional investors.

Onespan Company Profile

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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