Opendoor Technologies Inc. [OPEN] is -29.52% lower this YTD. Is it still time to buy?

Opendoor Technologies Inc. [NASDAQ: OPEN] surged by $0.21 during the normal trading session on Friday and reaching a high of $16.385 during the day while it closed the day at $16.02. The company report on June 9, 2021 that Opendoor Technologies Inc. Announces Redemption of All Outstanding Warrants.

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Opendoor Technologies Inc. (Nasdaq: OPEN), (“Opendoor” or “the Company”), a leading digital platform for residential real estate, announced that the Company will redeem all of its outstanding warrants (the “Public Warrants”) to purchase shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), that were issued under the Warrant Agreement, dated April 27, 2020, by and between the Company and Continental Stock Transfer & Trust Company (“CST”), as warrant agent, as amended by the First Amendment to the Warrant Agreement, dated March 22, 2021, by and among the Company, CST and American Stock Transfer & Trust Company (the “Warrant Agent”), as warrant agent (as amended, the “Warrant Agreement”), as part of the units sold in the Company’s initial public offering (the “IPO”) and that remain outstanding at 5:00 p.m. New York City time on July 9, 2021 (the “Redemption Date”) for a redemption price of $0.10 per Public Warrant. In addition, the Company will redeem all of its outstanding warrants to purchase Common Stock that were issued under the Warrant Agreement in a private placement simultaneously with the IPO (the “Private Warrants” and, together with the Public Warrants, the “Warrants”) on the same terms as the outstanding Public Warrants.

Under the terms of the Warrant Agreement, the Company is entitled to redeem all of the outstanding Public Warrants at a redemption price of $0.10 per Public Warrant if (i) the last sales price (the “Reference Value”) of the Common Stock is at least $10.00 per share on each of twenty trading days within any thirty-day trading period ending on the third trading day prior to the date on which a notice of redemption is given and (ii) if the Reference Value is less than $18.00 per share, the Private Warrants are also concurrently called for redemption on the same terms as the outstanding Public Warrants. At the direction of the Company, the Warrant Agent has delivered a notice of redemption to each of the registered holders of the outstanding Warrants.

Opendoor Technologies Inc. stock has also loss -6.26% of its value over the past 7 days. However, OPEN stock has declined by -21.89% in the 3 months of the year. Over the past six months meanwhile, it has lost -43.05% and lost -29.52% year-on date.

The market cap for OPEN stock reached $9.13 billion, with 565.38 million shares outstanding and 489.31 million shares in the current float. Compared to the average trading volume of 12.04M shares, OPEN reached a trading volume of 6152629 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]:

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 0.90, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 4.40. The Price to Book ratio for the last quarter was 3.80, with the Price to Cash per share for the same quarter was set at 3.68.

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 -6.26. With this latest performance, OPEN shares dropped by -8.87% in over the last four-week period, additionally sinking by -43.05% over the last 6 months – not to mention a rise of 37.75% 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 OPEN stock in for the last two-week period is set at 42.57, with the RSI for the last a single of trading hit 38.91, and the three-weeks RSI is set at 43.86 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 16.76, while it was recorded at 16.36 for the last single week of trading, and 21.85 for the last 200 days.

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

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.

Opendoor Technologies Inc. [OPEN]: Insider Ownership positions

There are presently around $5,004 million, or 58.10% 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 8.20% of the total institutional ownership; VK SERVICES, LLC, holding 46,120,934 shares of the stock with an approximate value of $738.86 million in OPEN stocks shares; and VANGUARD GROUP INC, currently with $460.08 million in OPEN stock with ownership of nearly New of the company’s market capitalization.

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Positions in Opendoor Technologies Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 115 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 75,528,662 shares. Additionally, 59 investors decreased positions by around 22,177,349 shares, while 27 investors held positions by with 214,655,404 shares. The mentioned changes placed institutional holdings at 312,361,415 shares, according to the latest SEC report filing. OPEN stock had 68 new institutional investments in for a total of 44,899,169 shares, while 32 institutional investors sold positions of 12,861,498 shares during the same period.

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