Despite the early success of peer-to-peer lenders, investors are now starting to retreat from P2P lending companies in a dramatic fashion.

Companies such as OnDeck and Lending Club received large capital investments early in their careers and enjoyed positive media attention for quite some time. But new data over the past few months is revealing various weaknesses throughout the P2P lending scene.

Last week, shares of OnDeck Capital plummeted 34 percent to $5.50 per share after reporting dismal first quarter results.

That price point is 70 percent less than its IPO price nearly 18-months ago. OnDeck posted a $13 million loss in Q1 2016, more than doubling its $5 million loss from a year ago.

But the really interesting data came from OnDeck’s sales model. The company, which offers loans to small businesses, said total loan volumes rose by $100 million over the past year.

However, the P2P lender is now finding it more difficult to acquire investors to sell these loans to, with the percentage of loan sales to investors falling from 40 percent to 26 percent.

OnDeck isn’t the only company to feel the sting of wary investors. Lending Club, one of the top P2P lenders, saw its stock price fall 10 percent last week Tuesday.

Apparently some investors are wary of the young P2P industry. The industry on the whole as enjoyed many successes, but analysts note that the industry is still in its infancy.

Some of the data analytics used by these firms are less than perfect, leading some analysts to question the riskiness of these loans.

At the same time, institutional investors and analysts note that these young P2P lenders are not treated like banks when their stock valuations are made. Instead, they are treated like startups, which tend to have more optimistic stock valuations.