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Shares of LendingClub Corporation Move Past a New 52-Week High

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Shares of LendingClub Corporation (NYSE: LC) traded at a new 52-week high today of $34.73. This new high was reached on below-average trading volume as 458,000 shares traded hands, while the average 30-day volume is approximately 1.8 million shares.

Over the past year, LendingClub Corporation has traded in a range of $4.40 to $34.73 and is now at $33.82, 669% above that low.

LendingClub is a company engaged in operating an online lending marketplace platform that connects borrowers and investors for the provision of the loan facility. It offers investors access to an asset class that has generally been closed to many investors and only available on a limited basis to institutional investors. The company through the platform offer loan products such as personal, education and patient finance, small business, and auto to interested investors. It generates a majority of the revenue from the transaction fees received from the platform’s role in accepting and decisioning applications on behalf of the bank partners to enable loan originations.

LendingClub Corporation has potential upside of 146.5% based on a current price of $33.82 and analysts’ consensus price target of $83.37.

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