As of Thursday close, Opendoor Technologies Inc.’s (NASDAQ:OPEN) stock was down -$0.04, moving down -1.02 percent to $3.90. The average number of shares traded per day over the past five days has been 16,347,960 shares. 5 times new highs have been achieved over the past 5 days, with a $0.68 gain in that time frame. In the last twenty days, the average volume was 18,720,645, while in the previous 50 days, it was 22,987,967.
Since last month, OPEN stock retreated -18.41%. Shares of the company fell to $3.06 on 08/18/23, the lowest level in the past month. A 52-week high of $5.41 was reached on 08/01/23 after having rallying from a 52-week low of $0.92. Since the beginning of this year, OPEN’s stock price has risen by 236.21% or $2.74, and marked a new high 23 times. However, the stock has declined by -27.91% 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 17 days ago on Aug 15. Wu Eric Chung-Wei, the Director of the company, disposed of 51,256 shares for $3.42 on Aug 15. It resulted in a $175,311 divestment by the insider. Wu Eric Chung-Wei sold 500,000 shares at an average price of $3.43 on Aug 09. The insider now owns 20,130,676 shares following the transaction. On Jul 17, President, Sell Direct & Svcs. Meyer Megan D. sold 39,579 shares at $4.35 apiece. The transaction was valued at $172,099.
Valuation Metrics
The stock’s beta is 2.16. Besides these, the trailing price-to-sales (P/S) ratio of 0.21, the price-to-book (PB) ratio of 2.32, and the price-to-cash flow ratio of 0.58 may also be considered.
Financial Health
In the three months ended June 29, Opendoor Technologies Inc.’s quick ratio stood at 33.50, while its current ratio was 46.50, 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 June 29 was 2.79, and the total debt-to-equity ratio was 2.80. On the profitability front, the trailing twelve-month gross margin is -0.30% percent. In the year ended June 29, operating margins totaled -9.90%. Based on annual data, OPEN earned $667.0 million in gross profit and brought in $15.57 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 -14.90%. Return on equity (ROE) for the past 12 months was -119.70%.
In Opendoor Technologies Inc.’s quarter-end financial report for June 29, it reported total debt of $2.53 billion. 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 fell -112.45% to $3.12 billion during the quarter, while net income inched up to $1.98 billion. While analysts expected Opendoor Technologies Inc. to report -$0.38 quarterly earnings, the actual figure was -$0.3 per share, beating the consensus estimate by 21.10%. During the quarter, the company generated -$49.0 million in EBITDA. The liabilities of Opendoor Technologies Inc. were 3.14 billion at the end of its most recent quarter ended June 29, and its total debt was $3.07 billion. The value of shareholders’ equity is $659.2 million.
Technical Picture
This quick technical analysis looks at Opendoor Technologies Inc.’s (OPEN) price momentum. With a historical volatility rate of 66.84%, the RSI 9-day stood at 61.92% on 31 August.
With respect to its five-day moving average, the current Opendoor Technologies Inc. price is up by +21.12% percent or $0.68. At present, OPEN shares trade -18.83% below its 20-day simple moving average and +132.14% percent above its 100-day simple moving average. However, the stock is currently trading approximately +25.00% above its SMA50 and +87.50% above its SMA200.
Stochastic coefficient K was 85.27% and Stochastic coefficient D was 77.31%, while ATR was 0.31. Given the Stochastic reading of 75.68% for the 14-day period, the RSI (14) reading has been calculated as 55.65%. As of today, the MACD Oscillator reading stands at 0.36, while the 14-day reading stands at 0.43.
Analyst Ratings
Morgan Stanley launched its rating on Opendoor Technologies Inc. (NASDAQ: OPEN) to an Equal-weight in a note to investors on July 24, 2023. Opendoor Technologies Inc. (OPEN) has been rated Hold by analysts. According to 3 brokerage firms, OPEN is a sell, and 4 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 4 recommending it as overweight.
With a median target price of $3.20, the current consensus forecast for the stock is $1.00 – $7.00. Based on these forecasts, analysts predict Opendoor Technologies Inc. (OPEN) will achieve an average price target of $3.31.
