Opendoor Technologies Inc (NASDAQ:OPEN) finished Thursday with an addition of $0.06 to close at $2.61, an upside of 2.35 percent. An average of 16,553,100 shares of common stock have been traded in the last five days. There was a gain of $0.06 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 16,587,475 shares traded, while the 50-day average volume stands at 17,991,594.
OPEN stock has decreased by -30.40% in the last month. The company shares reached their 1-month lowest point of $2.32 on 09/26/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $0.92 and a high of $5.41 in 52 weeks. It has reached a new high 23 times so far this year and achieved 125.00% or $1.45 in price. In spite of this, the price is down -51.76% from the 52-week high.
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Insider Transactions
OPEN stock investors should be aware that Opendoor Technologies Inc (OPEN) stock had its last reported insider trading activity 10 days ago on Sep 19. In this transaction, the insider spent $27,035. Chief Executive Officer, WHEELER CARRIE, disposed of 613,286 shares at a price of $3.23 on Sep 15. The insider now owns more than $1,983,980 worth of shares. Prior to that, Chief Legal Officer Schaub Sydney went on to Sale 262,990 shares at $3.23 each on Sep 15. An amount of $850,773 was transacted.
Valuation Metrics
Opendoor Technologies Inc (OPEN) stock’s beta is 2.30. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.15, the price-to-book (PB) ratio at 1.58, and the price-to-cash flow ratio at 0.41.
Financial Health
Further, the company has a long term debt to equity ratio of 2.81 and a total debt to equity ratio of 2.83 for the quarter ending June 29. Its gross profit as reported stood at $667.0 million compared to revenue of $15.57 billion.
Earnings Surprise
For the three-month period that ended June 29, Opendoor Technologies Inc had $2.53 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $23.0 million in the quarter, while revenues were grew 334.78%. The analyst consensus anticipated Opendoor Technologies Inc’s latest quarter earnings to come in at -$0.38 per share, but it turned out to be -$0.3, a 21.10% surprise. For the quarter, EBITDA amounted to -$49.0 million. Shareholders own equity worth $659.2 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Opendoor Technologies Inc (OPEN) price momentum. RSI 9-day as of the close on 28 September was 31.14%, suggesting the stock is Neutral, with historical volatility in this time frame at 92.51%.
As of today, OPEN’s price is $2.50 +2.35% or $0.06 from its 5-day moving average. OPEN is currently trading -33.76% lower than its 20-day SMA and +45.81% higher than its 100-day SMA. However, the stock’s current price level is -38.00% below the SMA50 and +100.77% above the SMA200.
The stochastic %K and %D were 12.10% and 8.85%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 18.81% and the average true range at 0.28, the RSI (14) stands at 32.93%. The stock has reached -0.21 on the 9-day MACD Oscillator while the 14-day reading was at -0.49.
Analyst Ratings
Gordon Haskett upgraded Opendoor Technologies Inc (NASDAQ: OPEN) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as an Underperform.
What is OPEN’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $5.00, with a median target of $2.25. Taking a look at these predictions, the average price target given by analysts for Opendoor Technologies Inc (OPEN) stock is $2.73.
