Onespan Inc (NASDAQ:OSPN) Sees Large Increase in Short Interest

Onespan Inc (NASDAQ:OSPN) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,070,000 shares, a growth of 7.0% from the January 15th total of 1,000,000 shares. Based on an average daily trading volume, of 271,800 shares, the short-interest ratio is currently 3.9 days. Currently, 3.3% of the company’s stock are sold short.

Several brokerages have recently weighed in on OSPN. TheStreet raised shares of Onespan from a “c-” rating to a “b-” rating in a research note on Tuesday, October 29th. Zacks Investment Research cut shares of Onespan from a “buy” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.25.

Shares of OSPN traded up $0.26 during mid-day trading on Friday, hitting $18.24. 125,464 shares of the company’s stock were exchanged, compared to its average volume of 238,317. The company has a market cap of $722.81 million, a PE ratio of 91.20, a P/E/G ratio of 2.78 and a beta of 2.02. Onespan has a 52 week low of $12.81 and a 52 week high of $21.61. The company has a 50-day simple moving average of $18.00 and a 200 day simple moving average of $16.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.77 and a quick ratio of 2.50.

In other Onespan news, Director T Kendall Hunt sold 51,002 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $20.18, for a total transaction of $1,029,220.36. Following the sale, the director now directly owns 5,522,150 shares in the company, valued at approximately $111,436,987. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in Onespan in the fourth quarter valued at about $341,000. Marshall Wace LLP bought a new position in Onespan in the fourth quarter valued at about $3,964,000. Bank of New York Mellon Corp grew its position in Onespan by 5.5% in the fourth quarter. Bank of New York Mellon Corp now owns 420,919 shares of the company’s stock valued at $7,206,000 after acquiring an additional 21,922 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Onespan by 334.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 111,569 shares of the company’s stock valued at $1,910,000 after acquiring an additional 85,881 shares during the last quarter. Finally, UBS Group AG grew its position in Onespan by 47.7% in the fourth quarter. UBS Group AG now owns 79,913 shares of the company’s stock valued at $1,368,000 after acquiring an additional 25,805 shares during the last quarter. 68.71% of the stock is owned by institutional investors.

About Onespan

OneSpan, Inc engages in the design, development, and marketing of security solutions for identity, security, and business productivity that protect and facilitate transactions online, via mobile devices, and in-person. Its solutions has the following functions: secure access to online accounts, data, assets, and applications for global enterprises; provide tools for application developers to easily integrate security functions into their web-based and mobile applications; and facilitate digital transactions involving the signing, sending, and managing of documents.

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