The Stock Of The Week: Opendoor Technologies Inc. (OPEN)

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As of Wednesday close, Opendoor Technologies Inc.’s (NASDAQ:OPEN) stock was up $0.29, moving up 17.68 percent to $1.93. The average number of shares traded per day over the past five days has been 26,189,801 shares. 3 times new highs have been achieved over the past 5 days, with a $0.0100 gain in that time frame. In the last twenty days, the average volume was 29,979,246, while in the previous 50 days, it was 24,154,457.

Since last month, OPEN stock retreated -29.04%. Shares of the company fell to $1.4600 on 11/08/22, the lowest level in the past month. A 52-week high of $18.32 was reached on 01/03/22 after having rallying from a 52-week low of $1.46. Since the beginning of this year, OPEN’s stock price has dropped by -86.79% or -$12.6800, and marked a new high 1 time. However, the stock has declined by -89.47% since its 52-week high.


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OPEN stock investors should be aware that Opendoor Technologies Inc. (OPEN) stock had its last reported insider trading activity 9 days ago on Nov 16. Low Ah Kee Andrew, the President of the company, disposed of 151,030 shares for $1.92 on Nov 16. It resulted in a $289,993 divestment by the insider. Wu Eric Chung-Wei sold 67,629 shares at an average price of $1.92 on Nov 16. The insider now owns 32,751,029 shares following the transaction. On Nov 15, Chief Investment Officer Morillo Daniel sold 87,828 shares at $2.00 apiece. The transaction was valued at $176,078.

Financial Health

In the three months ended September 29, Opendoor Technologies Inc.’s quick ratio stood at 1.00, while its current ratio was 2.70, 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 September 29 was 3.13, and the total debt-to-equity ratio was 5.40. On the profitability front, the trailing twelve-month gross margin is 5.20% percent. In the year ended September 29, operating margins totaled -4.60%. 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 -54.30%.

In Opendoor Technologies Inc.’s quarter-end financial report for September 29, it reported total debt of $3.7 billion against cash and short-term investments of $178.0 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. OPEN’s revenue rose 64.73% to $4.2 billion during the quarter, while net income inched up to $3.36 billion. While analysts expected Opendoor Technologies Inc. to report -$0.63 quarterly earnings, the actual figure was -$1.47 per share, beating the consensus estimate by -133.30%. During the quarter, the company generated -$787.0 million in EBITDA. The liabilities of Opendoor Technologies Inc. were 8.3 billion at the end of its most recent quarter ended September 29, and its total debt was $8.07 billion. The value of shareholders’ equity is $634.2 million.

Technical Picture

This quick technical analysis looks at Opendoor Technologies Inc.’s (OPEN) price momentum. With a historical volatility rate of 187.13%, the RSI 9-day stood at 48.29% on 23 November.

With respect to its five-day moving average, the current Opendoor Technologies Inc. price is up by +0.52% percent or $0.0100. At present, OPEN shares trade -27.72% below its 20-day simple moving average and -64.72% percent below its 100-day simple moving average. However, the stock is currently trading approximately -55.12% below its SMA50 and -80.31% below its SMA200.

Stochastic coefficient K was 29.62% and Stochastic coefficient D was 24.35%, while ATR was 0.2481. Given the Stochastic reading of 50.54% for the 14-day period, the RSI (14) reading has been calculated as 43.93%. As of today, the MACD Oscillator reading stands at -0.1100, while the 14-day reading stands at -0.0742.

Analyst Ratings

Opendoor Technologies Inc. downgraded its rating on Opendoor Technologies Inc. (NASDAQ: OPEN) to a Sell in a note to investors on October 17, 2022. The analysts firm previously had a Neutral rating on the stock.Opendoor Technologies Inc. (OPEN) has been rated Overweight by analysts. According to 1 brokerage firm, 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 8 recommending it as overweight.

With a median target price of $4.00, the current consensus forecast for the stock is $1.55 – $13.00. Based on these forecasts, analysts predict Opendoor Technologies Inc. (OPEN) will achieve an average price target of $4.57.

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