Home Stock Earnings A company insider recently bought 6,000 shares of OneSpan Inc. [OSPN]. Should You Buy?

A company insider recently bought 6,000 shares of OneSpan Inc. [OSPN]. Should You Buy?

A company insider recently bought 6,000 shares of OneSpan Inc. [OSPN]. Should You Buy?
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The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. OneSpan Inc. shares valued at $59,800 were purchased by McConnell Michael J on Sep 08. At $9.97 per share, McConnell Michael J acquired 6,000 shares. The insider’s holdings grew to 50,408 shares worth approximately $0.59 million following the completion of this transaction.

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Also, McConnell Michael J purchased 2,000 shares, netting a total of over 19,420 in proceeds. Following the buying of shares at $9.71 each, the insider now holds 44,408 shares.

Before that, Nietzel Alfred A had added 9,000 shares to its account. In a trade valued at $102,375, the Director bought OneSpan Inc. shares for $11.38 each. Upon closing the transaction, the insider’s holdings increased to 9,000 shares, worth approximately $0.29 million.

As published in their initiating research note from Craig Hallum on February 02, 2022, OneSpan Inc. [OSPN] has been a Buy and the price target has been revised to $28. This represents a 58.46% premium over Wednesday’s closing price. Analysts at Sidoti upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid April. As of March 31, 2021, DA Davidson has initiated its “Buy” rating for OSPN. Earlier on February 19, 2021, Sidoti downgraded its rating. Their new recommendation was “a Neutral” for OSPN stock which previously was a “a Buy”.

Analyzing OSPN Stock Performance

On Wednesday, OneSpan Inc. [NASDAQ: OSPN] rose 11.83% to $11.63. The stock’s lowest price that day was $10.915, but it reached a high of $12.83 in the same session. During the last five days, there has been a surge of approximately 7.78%. Over the course of the year, OneSpan Inc. shares have dropped approximately -31.31%. Shares of the company reached a 52-week high of $17.79 on 01/12/22 and a 52-week low of $8.15 on 10/11/22. A 50-day SMA is recorded $9.83, while a 200-day SMA reached $12.40. Nevertheless, trading volume fell to 0.68 million shares from 0.35 million shares the previous day.

Support And Resistance Levels for OneSpan Inc. (OSPN)

According to the 24-hour chart, there is a support level at 10.75, which, if violated, would cause prices to drop to 9.88. In the upper region, resistance lies at 12.67. The next price resistance is at 13.71. RSI (Relative Strength Index) is 71.44 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.80, which suggests the price will decrease in the coming days. Percent R is at 27.91%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is OneSpan Inc. subject to short interest?

Stocks of OneSpan Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 80000.0 shares to 1.09 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.01 million shares. A jump of 7.34% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.84.

Which companies own the most shares of OneSpan Inc. (OSPN)?

According to BlackRock Fund Advisors filings, the company currently owns 5,473,928 shares, which is about 13.83% of the total OSPN shares outstanding. The investor’s shares have appreciated by 175,726 from its previous 13-F filing of 5298202.0 shares. With the completion of the buy transaction, Legion Partners Asset Management’s stake is now worth $27,492,694. The Vanguard Group, Inc. acquire a 5.55% interest valued at $21.12 million while Legal & General Investment Manage sold a -120,447 stake. A total of 0 shares of OneSpan Inc. were sold by Altai Capital Management LP during the quarter, and 17,933 were bought by SSgA Funds Management, Inc. In its current portfolio, Neuberger Berman Investment Advis holds 1,388,535 shares valued at $11.96 million.


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