Buying Opendoor Technologies Inc (NASDAQ: OPEN)? Here Are Some Things To Consider


Opendoor Technologies Inc (NASDAQ:OPEN) shares, rose in value on Thursday, May 16, with the stock price down by -1.81% to the previous day’s close as strong demand from buyers drove the stock to $2.43.

Actively observing the price movement in the recent trading, the stock is buoying the session at $2.48. Referring to stock’s 52-week performance, its high was $5.41, and the low was $1.80. On the whole, OPEN has fluctuated by 12.73% over the past month.

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Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.77B, with a low estimate of 1.43B and a high estimate of 1.51B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.46B.

Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that OPEN’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 0, with the price of OPEN currently trading nearly 10.21% and -4.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.71, while the 7-day volatility ratio is showing 8.34% which for the 30-day chart, stands at 7.88%. Furthermore, Opendoor Technologies Inc (OPEN)’s beta value is 2.79, and its average true range (ATR) is 0.20.

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 -1.81% in today’s session so far, and over the past year, it grew by 19.95%%.

Data on historical trading for Opendoor Technologies Inc (NASDAQ:OPEN) indicates that the trading volumes over the past 3 months, they’ve averaged 18.28 million. According to company’s latest data on outstanding shares, there are 677.64 million shares outstanding.

Nearly 19.34% of Opendoor Technologies Inc’s shares belong to company insiders and institutional investors own 56.49% of the company’s shares. The stock has fallen by -45.65% 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.

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