Opendoor Technologies Inc. [NASDAQ: OPEN] gained 1.59% or 0.24 points to close at $15.36 with a heavy trading volume of 8309124 shares. The company report on May 12, 2021 that Opendoor Announces First Quarter 2021 Financial Results.
Total Homes Sold of 2,462, up 190% versus 4Q20Total Homes Purchased of 3,594, up 78% versus 4Q20Total Revenue of $747 million, up 200% versus 4Q20GAAP Gross Profit of $97 million, or 13% of Total Revenue.
Opendoor Technologies Inc. (Nasdaq: OPEN), a leading digital platform for residential real estate, reported financial results for its quarter ended March 31, 2021. Opendoor’s First Quarter 2021 financial results and management commentary can be accessed through the Company’s shareholder letter on the quarterly results page of Opendoor’s investor relations website at https://investor.opendoor.com.
It opened the trading session at $14.53, the shares rose to $15.19 and dropped to $14.33, the range by which the price of stock traded the whole day. The daily chart for OPEN points out that the company has recorded -14.09% loss over the past six months. However, it is still -45.59% lower than its most recent low trading price.
If we look at the average trading volume of 11.92M shares, OPEN reached to a volume of 8309124 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Opendoor Technologies Inc. [OPEN]:
Goldman have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 17, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 18, 2021, representing the official price target for Opendoor Technologies Inc. stock. Previously, the target price had yet another raise to $37, while Credit Suisse analysts kept a Outperform rating on OPEN stock.
The Average True Range (ATR) for Opendoor Technologies Inc. is set at 1.61, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 3.21. The Price to Book ratio for the last quarter was 3.64, with the Price to Cash per share for the same quarter was set at 3.88.
Trading performance analysis for OPEN stock
Opendoor Technologies Inc. [OPEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.41. With this latest performance, OPEN shares dropped by -16.48% in over the last four-week period, additionally sinking by -14.09% 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 36.92, with the RSI for the last a single of trading hit 35.38, and the three-weeks RSI is set at 38.64 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 21.00, while it was recorded at 15.45 for the last single week of trading, and 21.02 for the last 200 days.
Opendoor Technologies Inc. [OPEN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Opendoor Technologies Inc. [OPEN] shares currently have an operating margin of -7.20 and a Gross Margin at +8.51. Opendoor Technologies Inc.’s Net Margin is presently recorded at -11.10.
Return on Total Capital for OPEN is now -17.30, given the latest momentum, and Return on Invested Capital for the company is -32.18. Return on Equity for this stock declined to -35.85, with Return on Assets sitting at -26.36. When it comes to the capital structure of this company, Opendoor Technologies Inc. [OPEN] has a Total Debt to Total Equity ratio set at 34.32. Additionally, OPEN Total Debt to Total Capital is recorded at 25.55, with Total Debt to Total Assets ending up at 25.24. Long-Term Debt to Equity for the company is recorded at 11.38, with the Long-Term Debt to Total Capital now at 8.47.
Reflecting on the efficiency of the workforce at the company, Opendoor Technologies Inc. [OPEN] managed to generate an average of -$273,626 per employee. Receivables Turnover for the company is 3,457.99 with a Total Asset Turnover recorded at a value of 2.37.Opendoor Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 4.90.
An analysis of insider ownership at Opendoor Technologies Inc. [OPEN]
There are presently around $4,774 million, or 57.10% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 73,620,282, which is approximately 0% of the company’s market cap and around 9.50% of the total institutional ownership; VK SERVICES, LLC, holding 46,120,934 shares of the stock with an approximate value of $708.42 million in OPEN stocks shares; and VANGUARD GROUP INC, currently with $441.12 million in OPEN stock with ownership of nearly New of the company’s market capitalization.
Positions in Opendoor Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 113 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 79,950,756 shares. Additionally, 57 investors decreased positions by around 22,059,046 shares, while 27 investors held positions by with 208,811,928 shares. The mentioned changes placed institutional holdings at 310,821,730 shares, according to the latest SEC report filing. OPEN stock had 69 new institutional investments in for a total of 49,787,535 shares, while 31 institutional investors sold positions of 13,049,359 shares during the same period.