Opendoor Technologies Inc (NASDAQ:OPEN) shares, rose in value, with the stock price down by -8.04% to the previous day’s close as strong demand from buyers drove the stock to $2.63.
Actively observing the price movement in the last trading, the stock closed the session at $2.86. The value of beta (5-year monthly) was 2.66. Referring to stock’s 52-week performance, its high was $5.41, and the low was $1.25. On the whole, OPEN has fluctuated by -18.83% over the past month.
With the market capitalization of Opendoor Technologies Inc currently standing at about $1.79 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.16, which is expected to increase to -$0.07 for fiscal year -$0.51 and then to about -$0.35 by fiscal year 2025. Data indicates that the EPS growth is expected to be 56.80% in 2025, while the next year’s EPS growth is forecast to be 31.40%.
Analysts have estimated the company’s revenue for the quarter at $1.09 billion, with a low estimate of $1.07 billion and a high estimate of $1.11 billion. According to the average forecast, sales growth in current quarter could jump down -65.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $5.86 billion, representing a decrease of -15.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OPEN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy 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 0, with the price of OPEN currently trading nearly -12.52% and -20.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.73, while the 7-day volatility ratio is showing 6.98% which for the 30-day chart, stands at 7.36%. Furthermore, Opendoor Technologies Inc (OPEN)’s beta value is 2.66, and its average true range (ATR) is 0.23.
A comparison of Opendoor Technologies Inc (OPEN) with its peers suggests the former has fared considerably weaker in the market. OPEN showed an intraday change of -8.04% in last session, and over the past year, it grew by 90.58%%.
Data on historical trading for Opendoor Technologies Inc (NASDAQ:OPEN) indicates that the trading volumes over the past 10 days have averaged 18.45 million and over the past 3 months, they’ve averaged 21.33 million. According to company’s latest data on outstanding shares, there are 677.64 million shares outstanding.
Nearly 19.97% of Opendoor Technologies Inc’s shares belong to company insiders and institutional investors own 57.32% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 73.35 million shares as on Feb 29, 2024, resulting in a short ratio of 3.54. According to the data, the short interest in Opendoor Technologies Inc (OPEN) stood at 10.79% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 71.5 million. The stock has fallen by -41.29% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OPEN stock heading into the next quarter.
