OneSpan Inc. (NASDAQ:OSPN) Sees Significant Decrease in Short Interest

OneSpan Inc. (NASDAQ:OSPN) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,320,000 shares, a drop of 32.0% from the December 15th total of 1,940,000 shares. Based on an average daily volume of 375,200 shares, the short-interest ratio is currently 3.5 days. Approximately 3.7% of the shares of the company are short sold.

OneSpan Stock Performance

NASDAQ:OSPN traded down $0.14 during trading hours on Friday, hitting $18.93. The stock had a trading volume of 394,682 shares, compared to its average volume of 306,635. The company has a market cap of $719.15 million, a price-to-earnings ratio of 25.58 and a beta of 0.77. OneSpan has a one year low of $9.22 and a one year high of $19.58. The business’s 50 day moving average is $18.36 and its 200-day moving average is $16.19.

OneSpan Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.12 per share. The ex-dividend date is Friday, January 31st.

Insiders Place Their Bets

In other OneSpan news, Director Michael J. Mcconnell sold 53,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.51, for a total value of $981,030.00. Following the sale, the director now owns 20,849 shares of the company’s stock, valued at $385,914.99. The trade was a 71.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Institutional Trading of OneSpan

Several hedge funds have recently bought and sold shares of OSPN. Ellsworth Advisors LLC lifted its stake in OneSpan by 8.6% in the 4th quarter. Ellsworth Advisors LLC now owns 35,521 shares of the company’s stock valued at $659,000 after acquiring an additional 2,826 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in OneSpan by 46.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 495,210 shares of the company’s stock valued at $9,181,000 after buying an additional 157,387 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of OneSpan by 177.5% during the third quarter. JPMorgan Chase & Co. now owns 1,106,806 shares of the company’s stock worth $18,450,000 after purchasing an additional 708,020 shares during the period. Principal Financial Group Inc. bought a new position in OneSpan during the 3rd quarter worth $312,000. Finally, 272 Capital LP acquired a new stake in OneSpan in the 3rd quarter worth about $1,659,000. 95.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. StockNews.com upgraded OneSpan from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $19.00 in a research report on Thursday, October 31st. Finally, Rosenblatt Securities raised their target price on shares of OneSpan from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.63.

About OneSpan

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