Overstock.com Inc. [NASDAQ: OSTK] slipped around -3.07 points on Wednesday, while shares priced at $88.93 at the close of the session, down -3.34%. The company report on August 12, 2020 that Overstock Announces Pricing of Upsized Public Offering of Common Stock.
Overstock.com, Inc. (NASDAQ:OSTK) (“Overstock”) announces the pricing of its previously announced underwritten public offering of 2,100,000 shares of its common stock, par value $0.0001 per share (the “Common Stock”) at a public offering price of $84.50 per share. The size of the offering was increased from the previously announced 1,700,000 shares offered. In addition, Overstock has granted underwriters a 30-day option to purchase up to an additional 315,000 shares of the Common Stock, at the public offering price, less the underwriting discount. The offering is expected to close on August 14, 2020, subject to customary closing conditions.
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Overstock anticipates that the gross proceeds from the offering will be $177,450,000, before deducting the underwriting discount and estimated offering expenses payable by Overstock. Overstock intends to use the net proceeds from the offering for general corporate purposes. .
Overstock.com Inc. stock is now 1161.42% up from its year-to-date (YTD) trading value. OSTK Stock saw the intraday high of $91.845 and lowest of $85.51 per share. The company’s 52-week high price is 112.62, which means current price is +3,415.02% above from all time high which was touched on 08/07/20.
Compared to the average trading volume of 5.25M shares, OSTK reached a trading volume of 8959470 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Overstock.com Inc. [OSTK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OSTK shares is $103.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OSTK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DA Davidson have made an estimate for Overstock.com Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 02, 2020. While these analysts kept the previous recommendation, Maxim Group raised their target price from $34 to $40. The new note on the price target was released on August 09, 2019, representing the official price target for Overstock.com Inc. stock. Previously, the target price had yet another drop from $75 to $34, while Maxim Group kept a Buy rating on OSTK stock.
The Average True Range (ATR) for Overstock.com Inc. is set at 8.98, with the Price to Sales ratio for OSTK stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 35.57, with the Price to Cash per share for the same quarter was set at 3.96.
How has OSTK stock performed recently?
Overstock.com Inc. [OSTK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.24. With this latest performance, OSTK shares gained by 106.19% in over the last four-week period, additionally plugging by 868.74% over the last 6 months – not to mention a rise of 332.12% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OSTK stock in for the last two-week period is set at 69.84, with the RSI for the last a single of trading hit 65.02, and the three-weeks RSI is set at 71.53 for Overstock.com Inc. [OSTK]. The present Moving Average for the last 50 days of trading for this stock 46.35, while it was recorded at 94.86 for the last single week of trading, and 18.34 for the last 200 days.
Overstock.com Inc. [OSTK]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Overstock.com Inc. [OSTK] shares currently have an operating margin of -8.57 and a Gross Margin at +18.10. Overstock.com Inc.’s Net Margin is presently recorded at -8.23.
Return on Total Capital for OSTK is now -59.56, given the latest momentum, and Return on Invested Capital for the company is -88.54. Return on Equity for this stock declined to -97.38, with Return on Assets sitting at -27.35. When it comes to the capital structure of this company, Overstock.com Inc. [OSTK] has a Total Debt to Total Equity ratio set at 24.47. Additionally, OSTK Total Debt to Total Capital is recorded at 19.66, with Total Debt to Total Assets ending up at 6.74. Long-Term Debt to Equity for the company is recorded at 18.73, with the Long-Term Debt to Total Capital now at 15.05.
Reflecting on the efficiency of the workforce at the company, Overstock.com Inc. [OSTK] managed to generate an average of -$74,505 per employee. Receivables Turnover for the company is 45.77 with a Total Asset Turnover recorded at a value of 3.32.Overstock.com Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
Earnings analysis for Overstock.com Inc. [OSTK]
With the latest financial reports released by the company, Overstock.com Inc. posted -0.87/share EPS, while the average EPS was predicted by analysts to be reported at -0.62/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OSTK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Overstock.com Inc. go to 5.00%.
Insider trade positions for Overstock.com Inc. [OSTK]
There are presently around $1,426 million, or 40.80% of OSTK stock, in the hands of institutional investors. The top three institutional holders of OSTK stocks are: MORGAN STANLEY with ownership of 3,679,601, which is approximately -0.664% of the company’s market cap and around 1.10% of the total institutional ownership; ALLIANZ ASSET MANAGEMENT GMBH, holding 1,868,105 shares of the stock with an approximate value of $166.13 million in OSTK stocks shares; and VANGUARD GROUP INC, currently with $146.18 million in OSTK stock with ownership of nearly 15.92% of the company’s market capitalization.
Positions in Overstock.com Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 58 institutional holders increased their position in Overstock.com Inc. [NASDAQ:OSTK] by around 4,071,352 shares. Additionally, 65 investors decreased positions by around 6,373,932 shares, while 11 investors held positions by with 5,591,346 shares. The mentioned changes placed institutional holdings at 16,036,630 shares, according to the latest SEC report filing. OSTK stock had 30 new institutional investments in for a total of 2,045,795 shares, while 26 institutional investors sold positions of 2,462,361 shares during the same period.