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Opendoor Technologies Inc. (OPEN) – Don’t Believe the Hype: Check The Facts

Opendoor Technologies Inc. (NASDAQ: OPEN) is -79.19% lower on its value in year-to-date trading and has touched a low of $3.23 and a high of $25.33 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OPEN stock was last observed hovering at around $3.25 in the last trading session, with the day’s loss setting it -0.21% off its average median price target of $7.63 for the next 12 months. It is also 84.0% off the consensus price target high of $19.00 offered by 13 analysts, but current levels are 42.1% higher than the price target low of $5.25 for the same period.

Currently trading at $3.04, the stock is -29.73% and -37.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 28.64 million and changing -6.46% at the moment leaves the stock -61.43% off its SMA200. OPEN registered -84.38% loss for a year compared to 6-month loss of -66.88%.

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The stock witnessed a -34.62% gain in the last 1 month and extending the period to 3 months gives it a -43.49%, and is -27.45% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.24% over the week and 6.88% over the month.

Opendoor Technologies Inc. (OPEN) has around 2816 employees, a market worth around $1.97B and $15.44B in sales. Profit margin for the company is -1.80%. Distance from 52-week low is -5.88% and -88.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.10%).

Opendoor Technologies Inc. (OPEN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Opendoor Technologies Inc. (OPEN) is a “Overweight”. 13 analysts offering their recommendations for the stock have an average rating of 2.30, where 4 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Opendoor Technologies Inc. is expected to release its quarterly report on 11/09/2022.The EPS is expected to shrink by -138.80% this year

Opendoor Technologies Inc. (OPEN) Top Institutional Holders

The shares outstanding are 624.96M, and float is at 526.27M with Short Float at 14.70%.

Opendoor Technologies Inc. (OPEN) Insider Activity

A total of 16 insider transactions have happened at Opendoor Technologies Inc. (OPEN) in the last six months, with sales accounting for 10 and purchases happening 6 times. The most recent transaction is an insider sale by WHEELER CARRIE, the company’s CFO. SEC filings show that WHEELER CARRIE sold 115,378 shares of the company’s common stock on Sep 16 at a price of $4.06 per share for a total of $0.47 million. Following the sale, the insider now owns 4.13 million shares.

Opendoor Technologies Inc. disclosed in a document filed with the SEC on Aug 17 that Low Ah Kee Andrew (President) sold a total of 183,782 shares of the company’s common stock. The trade occurred on Aug 17 and was made at $5.26 per share for $0.97 million. Following the transaction, the insider now directly holds 3.52 million shares of the OPEN stock.

Still, SEC filings show that on Aug 17, Wu Eric Chung-Wei (CEO) disposed off 82,288 shares at an average price of $5.26 for $0.43 million. The insider now directly holds 33,196,702 shares of Opendoor Technologies Inc. (OPEN).

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