Openlane (NYSE:OPLN) Sees Significant Growth in Short Interest

Openlane (NYSE:OPLN) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,536,608 shares, an increase of 90.6% from the June 15th total of 1,331,015 shares. Based on an average daily volume of 1,541,302 shares, the short-interest ratio is presently 1.6 days. Currently, 2.4% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts have recently weighed in on OPLN shares. Wall Street Zen raised shares of Openlane from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays increased their price objective on Openlane from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised Openlane from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $38.00 in a research report on Wednesday, May 27th. Bank of America upped their target price on Openlane from $37.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Openlane in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.67.

Insiders Place Their Bets

In related news, insider William Clyde Mitchell sold 6,500 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $36.04, for a total value of $234,260.00. Following the transaction, the insider owned 15,914 shares of the company’s stock, valued at $573,540.56. This trade represents a 29.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James P. Coyle sold 15,000 shares of Openlane stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $35.77, for a total transaction of $536,550.00. Following the sale, the executive vice president owned 58,512 shares of the company’s stock, valued at $2,092,974.24. The trade was a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,972 shares of company stock valued at $4,018,932 in the last three months. 2.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OPLN. Salomon & Ludwin LLC bought a new stake in Openlane during the fourth quarter valued at about $26,000. First Horizon Corp bought a new position in Openlane in the fourth quarter worth about $27,000. Allworth Financial LP purchased a new stake in shares of Openlane during the fourth quarter valued at about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Openlane during the fourth quarter valued at about $39,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Openlane during the fourth quarter valued at about $40,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Openlane Price Performance

Shares of NYSE:OPLN traded down $0.50 during trading hours on Thursday, hitting $40.66. The company’s stock had a trading volume of 1,145,943 shares, compared to its average volume of 955,823. The company’s fifty day moving average is $38.12. Openlane has a 52 week low of $24.10 and a 52 week high of $42.90. The firm has a market capitalization of $4.31 billion, a P/E ratio of -39.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16.

Openlane (NYSE:OPLN) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $527.90 million for the quarter. Openlane had a net margin of 9.47% and a return on equity of 13.00%. Openlane’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. Openlane has set its FY 2026 guidance at 1.280-1.420 EPS. On average, equities research analysts predict that Openlane will post 1.31 earnings per share for the current fiscal year.

Openlane Company Profile

Openlane, Inc operates a digital wholesale vehicle marketplace that facilitates the remarketing of used vehicles for commercial consignors and retail dealers. The company provides an online auction platform that enables buyers and sellers to transact in real time, connecting franchised and independent dealers, fleet operators, rental companies, manufacturers and financial institutions. Its marketplace focuses on vehicles from lease returns, fleet and commercial fleets, repossessions and dealer trade-ins.

In addition to the core auction and listing services, Openlane offers a suite of remarketing support services designed to simplify the end-to-end sale process.