OneSpan (NASDAQ:OSPN) Hits New 52-Week High – Here’s Why

Shares of OneSpan Inc. (NASDAQ:OSPN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.00 and last traded at $18.00, with a volume of 498 shares traded. The stock had previously closed at $17.61.

Analysts Set New Price Targets

Several research firms have recently weighed in on OSPN. Sidoti raised OneSpan from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $19.00 in a research report on Thursday, October 31st. StockNews.com raised OneSpan from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of OneSpan in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $17.13.

OneSpan Stock Down 3.6 %

The firm has a market cap of $635.19 million, a price-to-earnings ratio of 22.59 and a beta of 0.75. The stock has a 50 day moving average of $15.80 and a 200 day moving average of $14.38.

Hedge Funds Weigh In On OneSpan

A number of institutional investors and hedge funds have recently bought and sold shares of OSPN. Quarry LP boosted its position in OneSpan by 860.4% during the 2nd quarter. Quarry LP now owns 2,161 shares of the company’s stock worth $28,000 after buying an additional 1,936 shares during the period. Quest Partners LLC lifted its holdings in shares of OneSpan by 2,952.6% during the second quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after purchasing an additional 2,303 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of OneSpan during the second quarter worth $41,000. Covestor Ltd bought a new stake in shares of OneSpan in the third quarter worth $65,000. Finally, Point72 Asset Management L.P. acquired a new stake in OneSpan in the second quarter valued at $74,000. Institutional investors and hedge funds own 95.52% of the company’s stock.

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.