Onespan (OSPN) Sees Large Volume Increase Following Strong Earnings

Shares of Onespan Inc (NASDAQ:OSPN) saw strong trading volume on Wednesday following a better than expected earnings announcement. 1,948,237 shares traded hands during mid-day trading, an increase of 700% from the previous session’s volume of 243,410 shares.The stock last traded at $19.32 and had previously closed at $16.77.

The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.10. The company had revenue of $64.80 million during the quarter, compared to the consensus estimate of $59.94 million. Onespan had a positive return on equity of 6.38% and a negative net margin of 12.85%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year.

Several analysts have recently weighed in on the company. ValuEngine upgraded Onespan from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 24th. Sidoti assumed coverage on Onespan in a research note on Monday, December 3rd. They set a “buy” rating for the company. Imperial Capital upgraded Onespan from an “in-line” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Monday, November 5th. Zacks Investment Research downgraded Onespan from a “hold” rating to a “sell” rating in a research note on Saturday, November 3rd. Finally, National Securities assumed coverage on Onespan in a research note on Thursday, January 3rd. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $19.00.

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Onespan by 99.0% during the fourth quarter. Millennium Management LLC now owns 44,079 shares of the company’s stock valued at $571,000 after acquiring an additional 21,927 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Onespan by 436.3% during the fourth quarter. Ancora Advisors LLC now owns 695,588 shares of the company’s stock valued at $9,008,000 after acquiring an additional 565,896 shares in the last quarter. Jane Street Group LLC acquired a new position in Onespan in the fourth quarter worth about $698,000. Municipal Employees Retirement System of Michigan acquired a new position in Onespan in the fourth quarter worth about $116,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in Onespan by 294.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,139 shares of the company’s stock worth $144,000 after purchasing an additional 8,317 shares in the last quarter. Institutional investors own 62.61% of the company’s stock.

The company has a market capitalization of $650.14 million, a P/E ratio of 44.93, a PEG ratio of 3.36 and a beta of 1.93.

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About Onespan (NASDAQ:OSPN)

OneSpan Inc, together with its subsidiaries, designs, develops, and markets digital solutions for identity, security, and business productivity worldwide. It enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. The company offers DIGIPASS software authenticators that balance the need for stronger mobile application security; DIGIPASS for Apps, a software development kit, which allows application developers to natively integrate security features; DIGIPASS for Mobile, a mobile authenticator that operates as a discrete mobile application; IDENTIKEY Risk Manager, an anti-fraud solution; and application shielding with runtime application self-protection that neutralizes the threat of attacks on mobile apps.

See Also: Capital Gains

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