Wedbush slashes price target on Opendoor Technologies Inc. [OPEN] – find out why.

Opendoor Technologies Inc. [NASDAQ: OPEN] closed the trading session at $27.70 on 01/27/21. The day’s price range saw the stock hit a low of $27.01, while the highest price level was $29.97.

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The stocks have a year to date performance of 21.87 percent and weekly performance of -1.63 percent. The stock has been moved at 130.83 percent over the last six months. The stock has performed 1.65 percent around the most recent 30 days and changed 42.49 percent over the most recent 3-months.

If compared to the average trading volume of 4.15M shares, OPEN reached to a volume of 8108895 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Opendoor Technologies Inc. [OPEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPEN shares is $32.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPEN stock is a recommendation set at 1.70. 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.

Wedbush have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 06, 2021. The new note on the price target was released on December 30, 2020, representing the official price target for Opendoor Technologies Inc. stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 2.49, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 4.29.

OPEN stock trade performance evaluation

Opendoor Technologies Inc. [OPEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.63. With this latest performance, OPEN shares gained by 1.65% in over the last four-week period, additionally plugging by 130.83% over the last 6 months.

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 OPEN stock in for the last two-week period is set at 53.19, with the RSI for the last a single of trading hit 51.53, and the three-weeks RSI is set at 54.17 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 24.74, while it was recorded at 28.78 for the last single week of trading.

Opendoor Technologies Inc. [OPEN]: An insightful look at the core fundamentals

Opendoor Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.30 and a Current Ratio set at 5.20.

Opendoor Technologies Inc. [OPEN]: Insider Ownership positions

There are presently around $576 million, or 31.00% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: SUVRETTA CAPITAL MANAGEMENT, LLC with ownership of 4,100,000, which is approximately 237.727% of the company’s market cap and around 8.20% of the total institutional ownership; D. E. SHAW & CO., INC., holding 1,643,577 shares of the stock with an approximate value of $45.53 million in OPEN stocks shares; and ALYESKA INVESTMENT GROUP, L.P., currently with $41.88 million in OPEN stock with ownership of nearly 705.264% of the company’s market capitalization.

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74 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 16,123,294 shares. Additionally, 30 investors decreased positions by around 10,487,074 shares, while 2 investors held positions by with 5,819,713 shares. The mentioned changes placed institutional holdings at 20,790,655 shares, according to the latest SEC report filing. OPEN stock had 65 new institutional investments in for a total of 11,194,901 shares, while 22 institutional investors sold positions of 6,285,987 shares during the same period.

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