Opendoor Technologies Inc. [NASDAQ: OPEN] slipped around -0.86 points on Tuesday, while shares priced at $16.90 at the close of the session, down -4.84%. The company report on September 14, 2021 that Opendoor Technologies Inc. Announces Pricing of Secondary Public Offering by Selling Stockholder.
Opendoor Technologies Inc. (Nasdaq: OPEN) (“Opendoor”), a leading digital platform for residential real estate, announced the pricing of its previously announced registered secondary public offering of 28,000,000 shares of common stock by an existing stockholder of Opendoor (the “Selling Stockholder”). The Selling Stockholder has also granted the underwriter a 30-day option to purchase up to an additional 4,200,000 shares of common stock from the Selling Stockholder. Opendoor is not selling any shares and will not receive any proceeds from the offering, which is expected to close on September 16, 2021, subject to customary closing conditions.
Citigroup Global Markets Inc. is acting as sole book-running manager for the offering. Citigroup proposes to offer the shares of common stock for sale from time to time in one or more transactions on The Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.
Opendoor Technologies Inc. stock is now -25.65% down from its year-to-date (YTD) trading value. OPEN Stock saw the intraday high of $17.375 and lowest of $16.76 per share. The company’s 52-week high price is 39.24, which means current price is +25.74% above from all time high which was touched on 02/11/21.
Compared to the average trading volume of 11.13M shares, OPEN reached a trading volume of 30432210 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 $31.20 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 2.10. 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.
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 0.97, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 4.98. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 2.88.
How has OPEN stock performed recently?
Opendoor Technologies Inc. [OPEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.21. With this latest performance, OPEN shares dropped by -3.70% in over the last four-week period, additionally sinking by -38.28% over the last 6 months – not to mention a rise of 29.50% 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 47.62, with the RSI for the last a single of trading hit 41.42, and the three-weeks RSI is set at 49.73 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 16.06, while it was recorded at 18.22 for the last single week of trading, and 21.16 for the last 200 days.
Opendoor Technologies Inc. [OPEN]: Deeper insight into the 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 1.10 and a Current Ratio set at 2.60.
Insider trade positions for Opendoor Technologies Inc. [OPEN]
There are presently around $6,199 million, or 63.00% 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 7.00% of the total institutional ownership; VK SERVICES, LLC, holding 46,120,934 shares of the stock with an approximate value of $779.44 million in OPEN stocks shares; and VANGUARD GROUP INC, currently with $701.51 million in OPEN stock with ownership of nearly 44.538% of the company’s market capitalization.
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 168 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 97,628,051 shares. Additionally, 70 investors decreased positions by around 43,015,413 shares, while 33 investors held positions by with 226,165,817 shares. The mentioned changes placed institutional holdings at 366,809,281 shares, according to the latest SEC report filing. OPEN stock had 101 new institutional investments in for a total of 32,949,563 shares, while 35 institutional investors sold positions of 1,509,617 shares during the same period.