Opendoor Technologies Inc. (OPEN) Insider Trading: What Insights Can Be Gained?

As of Thursday close, Opendoor Technologies Inc.’s (NASDAQ:OPEN) stock was up $0.56, moving up 11.62 percent to $5.38. The average number of shares traded per day over the past five days has been 22,206,861 shares. 4 times new highs have been achieved over the past 5 days, with a $0.25 gain in that time frame. In the last twenty days, the average volume was 19,915,170, while in the previous 50 days, it was 19,151,193.

Since last month, OPEN stock retreated -20.53%. Shares of the company fell to $4.30 on 06/16/22, the lowest level in the past month. A 52-week high of $25.33 was reached on 01/03/22 after having rallying from a 52-week low of $4.30. Since the beginning of this year, OPEN’s stock price has dropped by -63.18% or -$9.23, and marked a new high 1 time. However, the stock has declined by -78.76% since its 52-week high.

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Opendoor Technologies Inc. (OPEN) last reported insider trading activity 8 days ago on Jun 16. WHEELER CARRIE, the CFO of the company, disposed of 121,094 shares for $4.53 on Jun 16. It resulted in a $548,955 divestment by the insider. Low Ah Kee Andrew sold 157,742 shares at an average price of $7.22 on May 17. The insider now owns 3,701,828 shares following the transaction. On May 17, CEO Wu Eric Chung-Wei sold 70,632 shares at $7.22 apiece. The transaction was valued at $509,673.

Financial Health

In the three months ended March 30, Opendoor Technologies Inc.’s quick ratio stood at 1.20, while its current ratio was 2.90, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 1.31, and the total debt-to-equity ratio was 2.44. On the profitability front, the trailing twelve-month gross margin is 9.40% percent. In the year ended March 30, operating margins totaled -1.70%. Based on annual data, OPEN earned $730.0 million in gross profit and brought in $8.02 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -6.10%. Return on equity (ROE) for the past 12 months was -15.50%.

In Opendoor Technologies Inc.’s quarter-end financial report for March 30, it reported total debt of $2.11 billion against cash and short-term investments of $464.0 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. OPEN’s revenue rose 49.85% to $2.27 billion during the quarter, while net income inched up to $5.15 billion. While analysts expected Opendoor Technologies Inc. to report -$0.13 quarterly earnings, the actual figure was $0.15 per share, beating the consensus estimate by 215.40%. During the quarter, the company generated $138.0 million in EBITDA. The liabilities of Opendoor Technologies Inc. were 5.92 billion at the end of its most recent quarter ended March 30, and its total debt was $5.79 billion. The value of shareholders’ equity is $624.75 million.

Technical Picture

This quick technical analysis looks at Opendoor Technologies Inc.’s (OPEN) price momentum. With a historical volatility rate of 159.85%, the RSI 9-day stood at 44.73% on 23 June.

With respect to its five-day moving average, the current Opendoor Technologies Inc. price is up by +4.87% percent or $0.25. At present, OPEN shares trade -12.66% below its 20-day simple moving average and -38.93% percent below its 100-day simple moving average. However, the stock is currently trading approximately -30.94% below its SMA50 and -72.69% below its SMA200.

Stochastic coefficient K was 18.59% and Stochastic coefficient D was 15.10%, while ATR was 0.66. Given the Stochastic reading of 29.83% for the 14-day period, the RSI (14) reading has been calculated as 43.29%. As of today, the MACD Oscillator reading stands at -0.01, while the 14-day reading stands at -0.81.

Analyst Ratings

Compass Point launched its rating on Opendoor Technologies Inc. (NASDAQ: OPEN) to a Neutral in a note to investors on June 21, 2022. Opendoor Technologies Inc. (OPEN) has been rated Overweight by analysts. According to 0 brokerage firms, OPEN is a sell, and 3 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 0 analysts rate Opendoor Technologies Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $12.50, the current consensus forecast for the stock is $6.00 – $24.00. Based on these forecasts, analysts predict Opendoor Technologies Inc. (OPEN) will achieve an average price target of $12.05.


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