Sunday, March 7, 2021

Opendoor Technologies Inc. [OPEN] gain 25.87% so far this year. What now?

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Opendoor Technologies Inc. [NASDAQ: OPEN] jumped around 0.14 points on Wednesday, while shares priced at $28.61 at the close of the session, up 0.49%. The company report on February 3, 2021 that Opendoor Technologies Inc. Announces Proposed Public Offering of Common Stock.

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Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading digital platform for residential real estate, announced that it has commenced an underwritten public offering of 24,000,000 shares of its common stock. All of the shares in the proposed offering will be sold by Opendoor. In addition, Opendoor expects to grant the underwriters a 30-day option to purchase up to an additional 3,600,000 shares of its common stock in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering. Opendoor intends to use the net proceeds from this offering to invest in increasing existing market penetration and to expand into new markets, and for working capital and general corporate purposes.


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Citigroup and Goldman Sachs & Co. LLC are acting as joint book-running managers for the proposed offering.

Opendoor Technologies Inc. stock is now 25.87% up from its year-to-date (YTD) trading value. OPEN Stock saw the intraday high of $29.9111 and lowest of $27.04 per share. The company’s 52-week high price is 32.39, which means current price is +33.63% above from all time high which was touched on 01/21/21.

Compared to the average trading volume of 4.52M shares, OPEN reached a trading volume of 8407627 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 2.30, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 4.16.

How has OPEN stock performed recently?

Opendoor Technologies Inc. [OPEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.62. With this latest performance, OPEN shares gained by 19.16% in over the last four-week period, additionally plugging by 160.33% 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 56.48, with the RSI for the last a single of trading hit 58.78, and the three-weeks RSI is set at 55.89 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 25.70, while it was recorded at 26.89 for the last single week of trading.

Opendoor Technologies Inc. [OPEN]: Deeper insight into the 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.

Insider trade positions for Opendoor Technologies Inc. [OPEN]

There are presently around $592 million, or 31.10% 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 $47.02 million in OPEN stocks shares; and ALYESKA INVESTMENT GROUP, L.P., currently with $43.25 million in OPEN stock with ownership of nearly 705.264% of the company’s market capitalization.

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84 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 16,029,139 shares. Additionally, 32 investors decreased positions by around 10,656,514 shares, while 3 investors held positions by with 5,981,294 shares. The mentioned changes placed institutional holdings at 20,704,359 shares, according to the latest SEC report filing. OPEN stock had 76 new institutional investments in for a total of 11,243,146 shares, while 22 institutional investors sold positions of 6,230,840 shares during the same period.

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