OneSpan (NASDAQ:OSPN) Hits New 1-Year High – What’s Next?

Shares of OneSpan Inc. (NASDAQ:OSPN) hit a new 52-week high during 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.

Wall Street Analysts Forecast Growth

OSPN has been the subject of a number of research reports. Sidoti upgraded shares of OneSpan from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $19.00 in a 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 reiterated a “buy” rating and issued a $20.00 price target on shares of OneSpan in a report on Monday, October 28th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.13.

OneSpan Price Performance

The firm has a market capitalization of $635.19 million, a PE ratio of 22.59 and a beta of 0.75. The company’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $14.38.

Institutional Inflows and Outflows

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