In a report that was made available to customers and investors on Friday, the research experts at StockNews.com upgraded their recommendation for OneSpan (NASDAQ: OSPN), moving it from “hold” to “buy.” This was done in response to recent developments in the company’s performance.
OneSpan (NASDAQ: OSPN) updated investors regarding the outcomes of its most recent quarterly financial report on November 1st, a Tuesday. For the period, the company reported earnings per share of (0.03), which was $0.12 better than the average expectation of (0.15). The return on equity for OneSpan was negative, coming in at 8.71%, and the net margin for the company was also negative, coming in at 11.33%. The amount in question was $57.15 million, and that was the total revenue that the company recorded during the relevant period. Sell-side analysts forecast that OneSpan will experience a loss of -0.32 cents on each share it trades over the current financial year.
Recently, several hedge funds and institutional investors have altered the proportion of a particular stock held in their portfolios by either increasing or decreasing the amount of that stock. The value of Credit Suisse AG’s holdings in OneSpan increased by 4.8% over the second quarter of the year. After making a new purchase of 1,041 shares during the most recent quarter, Credit Suisse AG now directly owns 22,546 shares, which have a value of $268,000 after accounting for the company’s most recent dividends (up from 1,041). During the first quarter, the Bank of New York Mellon Corporation saw a 0.4% increase in the value of its holdings of OneSpan. Since the end of the previous quarter, the total number of shares that Bank of New York Mellon Corp. owns in the company has increased by 1,129, bringing the total value of its holdings up to $4,388,000 for a total of 303,819 shares. During the second quarter, UBS Asset Management Americas Inc. increased the amount of OneSpan stock owned by 3.4%, bringing its total ownership to 100%. UBS Asset Management Americas Inc. has increased the value of the total number of shares it owns in the company by $417,000 thanks to the acquisition of 1,155 additional shares of the company’s stock since the beginning of this current quarter. During the second quarter of the fiscal year, American International Group Inc. acquired a 5.8 percentage point increase in its ownership of OneSpan. American International Group Inc. now has 21,287 shares, valued at $253,000, after purchasing an additional 1,174 shares during the most recent quarter.
Last but not least, during the third quarter, Mutual of America Capital Management LLC added 21.3% more OneSpan stock to its holdings, bringing the total amount of the company’s ownership of that company’s stock to 100. In the past three months, Mutual of America Capital Management LLC has increased its stake in the company by purchasing an additional 1,230 shares, bringing the total number of shares it owns to 1,230. At present, each share is worth approximately $60,000 in the market. Institutional investors and hedge funds collectively own 82.14% of the total number of shares in the company, making up the majority of the shareholders.
One share of OneSpan stock was sold for $11.53 on Friday, representing a decrease of $0.06 from the previous day’s price. The company’s stock was involved in 108,542 transactions, with an average volume of 260,982 shares traded each time. OneSpan’s stock hit a 52-week low of $8.15, while it reached a 52-week high of $17.79 during the same period. The company has a price-to-earnings ratio of 18.30 and a beta value of 0.81, and its market capitalization is currently sitting at $457.30 million. The price of the stock’s moving average over the past 50 days comes in at $12.11, while the moving average over the past 200 days comes in at $11.29.
OneSpan Inc. and its subsidiaries are in charge of the worldwide design, development, and marketing of digital solutions for identification and security, as well as improving the efficiency of business operations. OneSpan Cloud Authentication is a multifactor authentication solution based in the cloud and supports a variety of authentication methods. The solution’s name comes from the fact that it is hosted in the cloud. Biometrics, push notifications, visual cryptograms for transaction data signing, short message service (SMS), and hardware authenticators are some examples of these methods. In addition, OneSpan Cloud Authentication supports various available authentication methods. OneSpan Sign is a set of requirements for digital signatures that can be used for anything from processing an infrequent agreement to processing tens of thousands of transactions.