OneSpan Inc. (NASDAQ:OSPN) Short Interest Update

OneSpan Inc. (NASDAQ:OSPNGet Rating) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 892,900 shares, a decrease of 15.8% from the March 31st total of 1,060,000 shares. Approximately 2.6% of the shares of the stock are sold short. Based on an average daily volume of 285,400 shares, the days-to-cover ratio is presently 3.1 days.

Several institutional investors have recently added to or reduced their stakes in OSPN. Selective Wealth Management Inc. acquired a new position in shares of OneSpan in the first quarter valued at approximately $29,000. Royal Bank of Canada increased its position in OneSpan by 21.7% during the 3rd quarter. Royal Bank of Canada now owns 3,023 shares of the company’s stock valued at $56,000 after purchasing an additional 539 shares during the period. JBF Capital Inc. increased its position in OneSpan by 100.0% during the 4th quarter. JBF Capital Inc. now owns 8,000 shares of the company’s stock valued at $135,000 after purchasing an additional 4,000 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in OneSpan during the 4th quarter valued at approximately $182,000. Finally, Caxton Associates LP acquired a new stake in OneSpan during the 3rd quarter valued at approximately $205,000. 89.50% of the stock is owned by institutional investors.

OneSpan stock opened at $13.63 on Wednesday. The firm has a 50 day moving average price of $14.10. OneSpan has a 1 year low of $11.93 and a 1 year high of $27.30. The firm has a market capitalization of $545.21 million, a P/E ratio of -17.70 and a beta of 0.61.

OneSpan (NASDAQ:OSPNGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. OneSpan had a negative return on equity of 10.97% and a negative net margin of 14.26%. The company had revenue of $52.45 million during the quarter, compared to the consensus estimate of $51.99 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that OneSpan will post -0.29 EPS for the current fiscal year.

OSPN has been the subject of several recent analyst reports. DA Davidson cut their price objective on shares of OneSpan from $32.00 to $23.00 in a research report on Wednesday, February 23rd. Craig Hallum began coverage on OneSpan in a research note on Wednesday, February 2nd. They set a “buy” rating and a $28.00 target price for the company. Zacks Investment Research raised OneSpan from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Finally, began coverage on OneSpan in a research note on Thursday, March 31st. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

OneSpan Company Profile (Get Rating)

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity 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 signing, SMS, and hardware authenticators; and OneSpan Identity Verification, which enables banks and financial institutions identity verification services.

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