Open Text Corp (NASDAQ:OTEX) shares, rose in value on Friday, January 24, with the stock price up by 0.73% to the previous day’s close as strong demand from buyers drove the stock to $28.84.
Actively observing the price movement in the last trading, the stock closed the session at $28.63, falling within a range of $28.67 and $28.97. The value of beta (5-year monthly) was 1.135 whereas the PE ratio was 16.70 over 12-month period. Referring to stock’s 52-week performance, its high was $45.47, and the low was $26.84. On the whole, OTEX has fluctuated by 4.49% over the past month.
With the market capitalization of Open Text Corp currently standing at about $7.67 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February. The company’s Forward Dividend Ratio is 1.02, with its dividend yield at 3.55%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.31B, with a low estimate of 1.29B and a high estimate of 1.33B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.32B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that OTEX’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 3.76, with the price of OTEX currently trading nearly 2.35% and -0.62% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.03, while the 7-day volatility ratio is showing 1.64% which for the 30-day chart, stands at 1.92%. Furthermore, Open Text Corp (OTEX)’s beta value is 1.12, and its average true range (ATR) is 0.60.
A comparison of Open Text Corp (OTEX) with its peers suggests the former has fared considerably weaker in the market. OTEX showed an intraday change of 0.73% in last session, and over the past year, it shrunk by -30.57%%.
Data on historical trading for Open Text Corp (NASDAQ:OTEX) indicates that the trading volumes over the past 10 days have averaged 0.57 and over the past 3 months, they’ve averaged 690.61K. According to company’s latest data on outstanding shares, there are 265.55 million shares outstanding.
Nearly 2.40% of Open Text Corp’s shares belong to company insiders and institutional investors own 69.95% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.24 million shares as on 2024-12-31, resulting in a short ratio of 6.25. According to the data, the short interest in Open Text Corp (OTEX) stood at 163.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 6.92 million. The stock has risen by 1.84% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OTEX stock heading into the next quarter.
