Opendoor Technologies Inc (NASDAQ:OPEN) price on Thursday, January 16, rose 1.99% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.54.
A look at the stock’s price movement, the close in the last trading session was $1.51, moving within a range at $1.46 and $1.59. The beta value (5-Year monthly) was 2.696. Turning to its 52-week performance, $3.78 and $1.33 were the 52-week high and 52-week low respectively. Overall, OPEN moved -19.79% over the past month.
Opendoor Technologies Inc’s market cap currently stands at around $1.10 billion, with investors looking forward to this quarter’s earnings report slated for in February.
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 5.03B, representing a -27.54% 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 100% Sell. 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 -4.60% and -15.37% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.89, while 7-day volatility ratio is 7.82% and 7.07% in the 30-day chart. Further, Opendoor Technologies Inc (OPEN) has a beta value of 2.84, and an average true range (ATR) of 0.13. 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 -29.87% off current price level while to achieve the yearly target high, price needs to move -484.42%. Nonetheless, investors will most likely welcome a -273.38% 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 46.23 over the past 10 days and 37.75 million over the past 3 months. The company’s latest data on shares outstanding shows there are 711.66 million shares.
The 16.52% of Opendoor Technologies Inc’s shares are in the hands of company insiders while institutional holders own 51.88% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 78.04 million on 2024-12-31, giving us a short ratio of 2.19. The data shows that as of 2024-12-31 short interest in Opendoor Technologies Inc (OPEN) stood at 1291.0 of shares outstanding, with shares short rising to 70.56 million registered in 2024-11-29. Current price change has pushed the stock -3.75% 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.
