OneSpan (NASDAQ:OSPN) Reaches New 1-Year High – Here’s What Happened

OneSpan Inc. (NASDAQ:OSPN) shares reached a new 52-week high during trading on Friday . The company traded as high as $17.74 and last traded at $17.70, with a volume of 142109 shares changing hands. The stock had previously closed at $17.32.

Wall Street Analysts Forecast Growth

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

OneSpan Stock Up 0.6 %

The stock has a market cap of $661.79 million, a PE ratio of 23.41 and a beta of 0.75. The company has a fifty day moving average price of $15.59 and a 200 day moving average price of $14.11.

Institutional Investors Weigh In On OneSpan

A number of large investors have recently made changes to their positions in the business. Quarry LP boosted its position in shares of OneSpan by 860.4% during the second quarter. Quarry LP now owns 2,161 shares of the company’s stock valued at $28,000 after purchasing an additional 1,936 shares in the last quarter. Quest Partners LLC increased its stake in shares of OneSpan by 2,952.6% in the 2nd quarter. Quest Partners LLC now owns 2,381 shares of the company’s stock worth $31,000 after acquiring an additional 2,303 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in OneSpan during the 2nd quarter valued at about $41,000. Covestor Ltd bought a new stake in OneSpan during the third quarter worth about $65,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of OneSpan in the 2nd quarter worth approximately $74,000. 95.52% of the stock is currently owned by institutional investors.

OneSpan Company Profile

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.