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. Open Lending Corp shares valued at $367,290 were sold by Flynn John Joseph on Mar 21 ’24. At $7.35 per share, Flynn John Joseph sold 50,000 shares. The insider’s holdings dropped to 1,993,762 shares worth approximately $10.55 million following the completion of this transaction.
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Also, Flynn John Joseph sold 50,000 shares, netting a total of over 398,030 in proceeds. Following the sale of shares at $7.96 each, the insider now holds 2,029,666 shares.
Before that, Flynn John Joseph had sold 50,000 shares from its account. In a trade valued at $362,685, the Director traded Open Lending Corp shares for $7.25 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $11.0 million.
As published in a research note from Needham on July 22, 2024, Open Lending Corp [LPRO] has been rated down from a Buy to a Hold. Analysts at BTIG Research started covering the stock with ‘”a Neutral”‘ outlook in a report released in early June. As of February 06, 2024, Morgan Stanley has increased its “an Underweight” rating to a “an Equal-weight” for LPRO. Earlier on November 08, 2023, Canaccord Genuity downgraded its rating. Their new recommendation was “a Hold” for LPRO stock which previously was a “a Buy”.
Analyzing LPRO Stock Performance
During the last five days, there has been a drop of approximately -3.99%. Over the course of the year, Open Lending Corp shares have dropped approximately -37.84%. Shares of the company reached a 52-week high of $8.70 on 01/02/24 and a 52-week low of $4.57 on 04/19/24. A 50-day SMA is recorded $5.92, while a 200-day SMA reached $6.48. Nevertheless, trading volume fell to 0.63 million shares from 0.39 million shares the previous day.
Support And Resistance Levels for Open Lending Corp (LPRO)
According to the 24-hour chart, there is a support level at 5.13, which, if violated, would cause prices to drop to 4.97. In the upper region, resistance lies at 5.49. The next price resistance is at 5.69. RSI (Relative Strength Index) is 39.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.46, which suggests the price will decrease in the coming days. Percent R is at 74.53%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
