Opendoor Technologies Inc. [OPEN] moved down -1.60: Why It’s Important

Opendoor Technologies Inc. [NASDAQ: OPEN] closed the trading session at $14.17 on 07/26/21. The day’s price range saw the stock hit a low of $13.94, while the highest price level was $14.59. The company report on July 26, 2021 that Opendoor Technologies Inc. Announces the Results of the Completed Redemption of All Outstanding Warrants.

Opendoor Technologies Inc. (Nasdaq: OPEN), (“Opendoor” or “the Company”), a leading digital platform for residential real estate, announced the results of the completed redemption of 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, as warrant agent (as amended, the “Warrant Agreement”), as part of the units sold in the Company’s initial public offering (the “IPO”) that remained 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.

On June 9, 2021, the Company issued a press release stating that, pursuant to the terms of the Warrant Agreement, it would redeem all of the outstanding Public Warrants at a redemption price of $0.10 per Public Warrant. The redemption was triggered because the last sales price (the “Reference Value”) of the Common Stock was at least $10.00 per share on each of twenty trading days within a thirty-day trading period ending on the third trading day prior to June 9, 2021. Since the Reference Value was less than $18.00 per share, the 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”) were also concurrently called for redemption on the same terms as the outstanding Public Warrants.

The stocks have a year to date performance of -37.66 percent and weekly performance of -0.14 percent. The stock has been moved at -48.15 percent over the last six months. The stock has performed -17.13 percent around the most recent 30 days and changed -34.40 percent over the most recent 3-months.

If compared to the average trading volume of 10.85M shares, OPEN reached to a volume of 5698612 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 0.77, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 3.98. The Price to Book ratio for the last quarter was 3.36, with the Price to Cash per share for the same quarter was set at 3.60.

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 -0.14. With this latest performance, OPEN shares dropped by -17.13% in over the last four-week period, additionally sinking by -48.15% over the last 6 months – not to mention a rise of 18.83% 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 35.01, with the RSI for the last a single of trading hit 31.17, and the three-weeks RSI is set at 38.02 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 16.05, while it was recorded at 14.52 for the last single week of trading, and 21.72 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 $4,442 million, or 58.40% 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 $653.53 million in OPEN stocks shares; and VANGUARD GROUP INC, currently with $406.95 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 August and at the time of the August reporting period, where 120 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 76,658,957 shares. Additionally, 56 investors decreased positions by around 22,054,385 shares, while 30 investors held positions by with 214,796,219 shares. The mentioned changes placed institutional holdings at 313,509,561 shares, according to the latest SEC report filing. OPEN stock had 74 new institutional investments in for a total of 46,030,952 shares, while 31 institutional investors sold positions of 12,750,174 shares during the same period.

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