Short Interest in Onespan Inc (NASDAQ:OSPN) Drops By 9.4%

Onespan Inc (NASDAQ:OSPN) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,408,100 shares, a drop of 9.4% from the June 30th total of 1,554,900 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 238,600 shares, the short-interest ratio is presently 5.9 days.

OSPN has been the subject of several recent analyst reports. Wedbush reaffirmed a “hold” rating and issued a $17.00 target price on shares of Onespan in a research report on Friday, July 26th. Zacks Investment Research cut Onespan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. TheStreet cut Onespan from a “b-” rating to a “c” rating in a research report on Monday, April 29th. B. Riley initiated coverage on Onespan in a research report on Tuesday, June 25th. They issued a “buy” rating and a $22.00 target price for the company. Finally, National Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of Onespan in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $20.20.

In other Onespan news, insider Scott Clements bought 3,500 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $14.25 per share, with a total value of $49,875.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director T Kendall Hunt sold 34,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $14.33, for a total value of $487,220.00. The disclosure for this sale can be found here. Company insiders own 19.30% of the company’s stock.



Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC acquired a new stake in Onespan during the first quarter valued at $38,000. Patriot Financial Group Insurance Agency LLC boosted its position in Onespan by 3,600.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,700 shares of the company’s stock valued at $50,000 after purchasing an additional 3,600 shares during the last quarter. Bank of Montreal Can boosted its position in Onespan by 206.9% during the second quarter. Bank of Montreal Can now owns 4,113 shares of the company’s stock valued at $58,000 after purchasing an additional 2,773 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Onespan during the fourth quarter valued at $116,000. Finally, KBC Group NV acquired a new stake in Onespan during the second quarter valued at $136,000. 65.03% of the stock is owned by hedge funds and other institutional investors.

OSPN traded up $0.50 during trading on Friday, reaching $13.45. 96,930 shares of the stock traded hands, compared to its average volume of 247,272. The stock has a market cap of $542.51 million, a price-to-earnings ratio of 37.36, a price-to-earnings-growth ratio of 3.75 and a beta of 2.12. Onespan has a fifty-two week low of $11.41 and a fifty-two week high of $21.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.88 and a quick ratio of 2.56. The stock’s 50-day simple moving average is $14.32 and its two-hundred day simple moving average is $16.29.

Onespan (NASDAQ:OSPN) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $56.20 million for the quarter, compared to analyst estimates of $56.29 million. Onespan had a negative net margin of 2.30% and a positive return on equity of 2.45%. Onespan’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. Research analysts anticipate that Onespan will post 0.36 earnings per share for the current fiscal year.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

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