OneSpan (NASDAQ:OSPN) Shares Down 6.4%

OneSpan Inc. (NASDAQ:OSPN) fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $15.60 and last traded at $15.61. 216,124 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 409,930 shares. The stock had previously closed at $16.67.

Wall Street Analysts Forecast Growth

Separately, Rosenblatt Securities began coverage on OneSpan in a research note on Friday, September 6th. They set a “buy” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, OneSpan has a consensus rating of “Moderate Buy” and an average target price of $15.38.

OneSpan Stock Down 7.1 %

The stock has a market cap of $586.61 million, a price-to-earnings ratio of -86.05 and a beta of 0.77. The stock’s 50 day moving average price is $15.39 and its two-hundred day moving average price is $13.25.

OneSpan (NASDAQ:OSPN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.08. The company had revenue of $60.92 million for the quarter. OneSpan had a return on equity of 18.69% and a net margin of 6.60%. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, analysts predict that OneSpan Inc. will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OneSpan

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in OneSpan by 26.7% in the fourth quarter. BNP Paribas Financial Markets now owns 47,501 shares of the company’s stock valued at $509,000 after buying an additional 10,003 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of OneSpan by 15,900.0% in the 4th quarter. TFO Wealth Partners LLC now owns 3,520 shares of the company’s stock valued at $38,000 after purchasing an additional 3,498 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in OneSpan in the 1st quarter worth about $2,997,000. Allspring Global Investments Holdings LLC boosted its position in OneSpan by 100.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,126 shares of the company’s stock worth $129,000 after purchasing an additional 5,578 shares in the last quarter. Finally, Kovack Advisors Inc. grew its holdings in OneSpan by 109.0% in the first quarter. Kovack Advisors Inc. now owns 167,400 shares of the company’s stock valued at $1,947,000 after purchasing an additional 87,300 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.

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.