Opendoor Technologies Inc (NASDAQ:OPEN) price on Wednesday, December 04, rose 1.39% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $2.19.
A look at the stock’s price movement, the close in the last trading session was $2.16, moving within a range at $2.09 and $2.23. The beta value (5-Year monthly) was 2.696. Turning to its 52-week performance, $4.89 and $1.52 were the 52-week high and 52-week low respectively. Overall, OPEN moved 18.38% over the past month.
Opendoor Technologies Inc’s market cap currently stands at around $1.57 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 991.55M for the company’s revenue for the quarter, with a low and high estimate of 941.55M and 1.23B respectively. The average forecast suggests up to a 13.97% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.07B, representing a -27.05% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that OPEN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend OPEN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
OPEN’s current price about 13.94% and 15.80% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.81, while 7-day volatility ratio is 9.27% and 9.07% in the 30-day chart. Further, Opendoor Technologies Inc (OPEN) has a beta value of 2.78, and an average true range (ATR) of 0.17. Analysts have given the company’s stock an average 52-week price target of $5.75, forecast between a low of $2 and high of $9. Looking at the price targets, the low is 8.68% off current price level while to achieve the yearly target high, price needs to move -310.96%. Nonetheless, investors will most likely welcome a -162.56% jump to $5.75 which is the analysts’ median price.
If we refocus on Opendoor Technologies Inc (NASDAQ:OPEN), historical trading data shows that trading volumes averaged 49.99 over the past 10 days and 36.62 million over the past 3 months. The company’s latest data on shares outstanding shows there are 711.66 million shares.
The 16.91% of Opendoor Technologies Inc’s shares are in the hands of company insiders while institutional holders own 52.58% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 72.04 million on 2024-11-15, giving us a short ratio of 2.28. The data shows that as of 2024-11-15 short interest in Opendoor Technologies Inc (OPEN) stood at 1192.0 of shares outstanding, with shares short falling to 88.91 million registered in 2024-10-15. Current price change has pushed the stock -51.12% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the OPEN stock continues to rise going into the next quarter.
