Opendoor Technologies Inc (NASDAQ:OPEN) price on Tuesday, December 24, fall -0.60% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.66.
A look at the stock’s price movement, the close in the last trading session was $1.67, moving within a range at $1.62 and $1.7. The beta value (5-Year monthly) was 2.696. Turning to its 52-week performance, $4.84 and $1.52 were the 52-week high and 52-week low respectively. Overall, OPEN moved -16.58% over the past month.
Opendoor Technologies Inc’s market cap currently stands at around $1.18 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 965.35M for the company’s revenue for the quarter, with a low and high estimate of 941.55M and 990M respectively. The average forecast suggests up to a 10.96% 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 5.05B, representing a -27.28% 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 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell 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 -17.22% and -12.16% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 35.38, while 7-day volatility ratio is 8.26% and 8.30% in the 30-day chart. Further, Opendoor Technologies Inc (OPEN) has a beta value of 2.82, and an average true range (ATR) of 0.15. 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 -20.48% off current price level while to achieve the yearly target high, price needs to move -442.17%. Nonetheless, investors will most likely welcome a -246.39% 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 29.42 over the past 10 days and 35.86 million over the past 3 months. The company’s latest data on shares outstanding shows there are 711.66 million shares.
The 16.54% of Opendoor Technologies Inc’s shares are in the hands of company insiders while institutional holders own 51.93% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 70.56 million on 2024-11-29, giving us a short ratio of 1.68. The data shows that as of 2024-11-29 short interest in Opendoor Technologies Inc (OPEN) stood at 1167.0 of shares outstanding, with shares short falling to 86.28 million registered in 2024-10-31. Current price change has pushed the stock -62.95% 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.
