OneSpan Inc. (NASDAQ:OSPN) is one of the stocks that are grabbing investor focus today: sinking -4.47% or (-0.66 points) to $14.12 from its previous close of $14.78. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 134765 contracts so far this session. OSPN shares had a relatively better volume day versus average trading capacity of 309.21 thousand shares, but with a 32.16 million float and a -3.27% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OSPN stock indicates that the average analyst price target is $24 per share. This means the stock has a potential increase of 69.97% from where the OSPN share price has been trading recently which is between $14.445 and $14.95. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $20.
The shorts are climbing into OneSpan Inc. (OSPN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in OSPN shares. While short interest still represents only 2.43% of OSPN’s float, the number of shares shorted have risen by 121006. The number of shares shorted advanced to 902131 shares, up from 781125 shares during the preceding fortnight. With average daily trading volumes at 320890 shares, days to cover decreased to about 4.802195 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Hedge Funds Have Never Been More Bullish On OneSpan Inc. (OSPN)” and dated May 09, 2019.
During the recent trading session for OneSpan Inc. (NASDAQ:OSPN), the company witnessed their stock drop by $-0.85 over a week and tumble down $-2.66 from the price 20 days ago. When compared to their established 52-week high of $25.45, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/04/18. The recent low of $11.41 stood for a -44.52% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.1 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for OneSpan Inc., the two-week RSI stands at 26.37. This figure suggests that OSPN stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current OSPN readings is similarly very revealing as it has a stochastic reading of 5.02% at this stage. This figure means that OSPN share price today is being overbought.
Technical chart claims that OneSpan Inc. (OSPN) would settle between $15.01/share to $15.23/share level. However, if the stock price goes below the $14.5 mark, then the market for OneSpan Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $14.22 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.61. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Imperial Capital lowered their recommendation on shares of OSPN from Outperform to In-line in their opinion released on February 20. Sidoti, analysts launched coverage of OneSpan Inc. (NASDAQ:OSPN) stock with a Buy recommendation, according to their flash note issued to investors on December 04. Analysts at Imperial Capital released an upgrade from In-line to Outperform for the stock, in a research note that dated back to November 05.
OSPN equity has an average rating of 1.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated OneSpan Inc. (NASDAQ:OSPN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OSPN stock price is currently trading at 21.96X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.77 while for the average stock in the same group, the multiple is 372.68.
OneSpan Inc. (OSPN)’s current-quarter revenues are projected to climb by nearly 9.42% to hit $54.22 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 9.25% from $212280 to a noteworthy $231920. At the other end of the current quarter income statement, OneSpan Inc. is expected to see its adjusted earnings surge by roughly 266.67% to hit $0.05 per share. For the fiscal year, OSPN’s earnings are projected to climb by roughly 13.89% to hit $0.41 per share.