Open Lending Corporation’s recent filing unveils that its Director Flynn John Joseph unloaded Company’s shares for reported $0.42 million on Aug 21. In the deal valued at $8.37 per share,50,000 shares were sold. As a result of this transaction, Flynn John Joseph now holds 2,429,666 shares worth roughly $ 20.02 million.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Then, Flynn John Joseph sold 50,000 shares, generating $515,175 in total proceeds. Upon selling the shares at $10.30, the Director now owns 2,479,666 shares.
Before that, Flynn John Joseph sold 50,000 shares. Open Lending Corporation shares valued at $560,405 were divested by the Director at a price of $11.21 per share. As a result of the transaction, Flynn John Joseph now holds 2,529,666 shares, worth roughly $20.84 million.
BTIG Research initiated its Open Lending Corporation [LPRO] rating to a Neutral in a research note published on Tuesday.
Price Performance Review of LPRO
On Tuesday, Open Lending Corporation [NASDAQ:LPRO] saw its stock fall -0.36% to $8.24. On the same session, the stock had its day’s lowest price of $8.12, but rose to a high of $8.29. Over the last five days, the stock has lost -2.02%. Open Lending Corporation shares have risen nearly 22.07% since the year began. Nevertheless, the stocks have fallen -12.80% over the past one year. While a 52-week high of $11.99 was reached on 05/10/23, a 52-week low of $5.35 was recorded on 02/24/23. SMA at 50 days reached $9.83, while 200 days put it at $8.42. A total of 0.53 million shares were traded, compared to the trading of 0.36 million shares in the previous session.
Levels Of Support And Resistance For LPRO Stock
The 24-hour chart illustrates a support level at 8.14, which if violated will result in even more drops to 8.05. On the upside, there is a resistance level at 8.31. A further resistance level may holdings at 8.39. The Relative Strength Index (RSI) on the 14-day chart is 33.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.93%. Stochastics %K at 31.58% indicates the stock is a holding.
How much short interest is there in Open Lending Corporation?
A steep rise in short interest was recorded in Open Lending Corporation stocks on Aug 14, 2023, dropping by -0.26 million shares to a total of 3.23 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.49 million shares. There was a decline of -8.05%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.95% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.95.
Open Lending Corporation [LPRO] – Who Are The Largest Shareholders?
In filings from Wasatch Advisors, Inc., it is revealed that the company now owns 16,709,804 shares, or roughly 13.85% of the outstanding LPRO shares. In other words, the investor’s shares have fallen by -474,917 from its previous 13-F filing of 17184721.0. Additionally, T. Rowe Price Associates, Inc. decreased -2.25% of its stake after which the total value it holdings stand at $133,120,898, while The Vanguard Group, Inc. reduced -11.95% of its stake to hold $101.51 million in the firm. Over the last quarter, BlackRock Fund Advisors sold -299,278 shares of Open Lending Corporation, while Working Capital Advisors sold 2,666,602 shares. At present, SSgA Funds Management, Inc. is holding 2,572,068 shares valued at $29.04 million. Geode Capital Management LLC owned 1,996,282 shares of the company at the time of its most recent 13F filing, worth $22.54 million.
According to FactSet, Open Lending Corporation’s share price will average $11.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.06 percent from its previous closing price of $8.27. Analysts expect Open Lending Corporation stock to reach the higher price of $20.00, while the lowest price estimate is $6.00. However, 12 analysts have rated LPRO stock as an Overweight in their predictions for 2023.