LendingClub Hurt After Q4 Report

LendingClub Corp LC shares are trading lower by $0.45 at $6.15 in Wednesday's session. Despite a Q4 beat of penny along with a $7.36 million beat for revenues, the issue is deep in the red.

The Street is focusing on it Q4 adjusted EBITDA ($2.2 million) vs. $24.6 in same quarter last year. Originations were down year-over-year from $2.579 billion to $1.987 billion. The company guided lower for Q1 sales ($117-122 million) vs. $142 million estimates and forecasts full year sales in the $565-$595 million range vs. $723 million estimates.

After a lower open, it manged a brief bounce to $6.28 before continuing its move lower. So far, the ensuing decline has found intra-day support at $6.01 and has rebounded back to mid-range on the session. That low coincides with its January 31 low of $5.96.