Opendoor Technologies Inc. (NASDAQ:OPEN) saw an upside of 3.20% to close Tuesday at $3.55 after adding $0.11 on the day. The 5-day average trading volume is 27,982,361 shares of the company’s common stock. It has gained $5.11 in the past week and touched a new high 1 time within the past 5 days. An average of 23,524,395 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 26,152,582.
OPEN’s 1-month performance is -12.99% or -$0.29 on its low of $3.21 reached on 08/07/23. The company’s shares have touched a 52-week low of $0.92 and high of $6.39, with the stock’s rally to the 52-week high happening on 08/01/23. YTD, OPEN has achieved 206.03% or $2.39 and has reached a new high 23 times. However, the current price is down -44.40% from the 52-week high price.
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Insider Transactions
OPEN stock investors last saw insider trading activity on Jul 17.Meyer Megan D. (President, Sell Direct & Svcs.) most recently sold 39,579 shares at $4.35 per share on Jul 17. This transaction cost the insider $172,099. , Schwartz Christina, sold 6,492 shares at a price of $4.35 on Jul 17. Then, on Jul 10, Director Wu Eric Chung-Wei sold 500,000 shares at a price of $3.84 per share. This transaction amounted to $1,921,150.
Valuation Metrics
OPEN stock has a beta of 2.18. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.23 while the price-to-book (PB) in the most recent quarter is 2.11, with the price to cash flow ratio at 0.75.
Opendoor Technologies Inc.’s quick ratio for the period ended June 29 was 33.50, with the current ratio over the same period at 46.50. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.79, while the total debt to equity was 2.80.. In terms of profitability, the gross margin trailing 12 months is 2.20%. The firm’s gross profit as reported stood at $667.0 million against revenue of $15.57 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Opendoor Technologies Inc.’s cash and short-term investments amounted to $90.0 million against total debt of $3.07 billion. Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -21.74% to $23.0 million, while revenue of -$101.0 million was 539.13% off the previous quarter. Analysts expected OPEN to announce -$0.38 per share in earnings in its latest quarter, but it posted -$0.3, representing a 21.10% surprise. EBITDA for the quarter stood at more than -$49.0 million. OPEN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 3.14 billion, with total debt at $3.07 billion. Shareholders hold equity totaling $659.2 million.
Let’s look briefly at Opendoor Technologies Inc. (OPEN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 35.43% to suggest the stock is trending Neutral, with historical volatility in this time period at 184.29%.
The stock’s 5-day moving average is $4.02, reflecting a -32.64% or -$1.72 change from its current price. OPEN is currently trading -20.22% above its 20-day SMA, +119.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +53.02% and SMA200 by+53.68%.
Stochastic %K and %D was 9.33% and 24.79% and the average true range (ATR) pointed at 0.48. The RSI (14) points at 41.65%, while the 14-day stochastic is at 15.45% with the period’s ATR at 0.45. The stock’s 9-day MACD Oscillator is pointing at -0.89 and -0.84 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Opendoor Technologies Inc. (NASDAQ: OPEN), Morgan Stanley launched coverage with an Equal-weight rating. Analysts offering their rating for OPEN stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate OPEN as a “sell,”, while 4 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is OPEN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.00 and a high of $7.00, with their median price target at $3.20. Looking at these predictions, the average price target given by analysts is for Opendoor Technologies Inc. (OPEN) stock is $3.31.
