Opendoor Technologies Inc. [OPEN] fell -38.32% so far this year. What now?

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Opendoor Technologies Inc. [NASDAQ: OPEN] traded at a low on 12/03/21, posting a -3.64 loss after which it closed the day’ session at $14.02. The company report on November 10, 2021 that Opendoor Announces Third Quarter 2021 Financial Results.

Opendoor Technologies Inc. (Nasdaq: OPEN), a leading digital platform for residential real estate, reported financial results for its quarter ended September 30, 2021. Opendoor’s third 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.


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“Over the years, I am often asked whether our vision and strategy has changed. The short answer is no – we have always been focused on making it possible to buy, sell, and move at the tap of a button. In our view, the end state for the real estate marketplace will inevitably be a simple, certain, and fast transaction powered by technology. It is just a matter of when. So we have been consistently focused on investing in that future experience, piece by piece, with the consumer in mind at every step. We take great pride in doing the hard work to execute with excellence in our consumer experience, technology, business performance, and company culture. This is what sets us apart,” said Eric Wu, Co-Founder and CEO of Opendoor. “Our third quarter results are the byproduct of our focus on the consumer experience and strong, consistent execution. We exceeded our expectations in generating $2.3 billion of revenue, acquiring 15,181 homes, and delivering over $170 million of Contribution Profit and $35 million of Adjusted EBITDA.”.

The results of the trading session contributed to over 15814168 shares changing hands. Over the past one week, the price volatility of Opendoor Technologies Inc. stands at 7.90% while the volatility over the past one month is 7.86%.

The market cap for OPEN stock reached $8.98 billion, with 603.39 million shares outstanding and 504.46 million shares in the current float. Compared to the average trading volume of 13.97M shares, OPEN reached a trading volume of 15814168 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 $32.67 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.

Citigroup have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 24, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on May 17, 2021, representing the official price target for Opendoor Technologies Inc. stock. Previously, the target price had yet another raise to $34, while Citigroup analysts kept a Buy rating on OPEN stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 1.52, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 2.02. The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 2.87.

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 -14.36. With this latest performance, OPEN shares dropped by -32.79% in over the last four-week period, additionally sinking by -16.65% over the last 6 months – not to mention a drop of -34.55% 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 27.07, with the RSI for the last a single of trading hit 19.75, and the three-weeks RSI is set at 32.40 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 20.93, while it was recorded at 15.00 for the last single week of trading, and 19.28 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 0.60 and a Current Ratio set at 2.10.

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Insider trade positions for Opendoor Technologies Inc. [OPEN]

There are presently around $5,320 million, or 63.40% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 45,916,556, which is approximately 10.616% of the company’s market cap and around 7.10% of the total institutional ownership; SB INVESTMENT ADVISERS (UK) LTD, holding 41,420,282 shares of the stock with an approximate value of $580.71 million in OPEN stocks shares; and BLACKROCK INC., currently with $280.12 million in OPEN stock with ownership of nearly 12.57% of the company’s market capitalization.

Positions in Opendoor Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 204 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 110,470,447 shares. Additionally, 91 investors decreased positions by around 93,387,857 shares, while 43 investors held positions by with 175,629,484 shares. The mentioned changes placed institutional holdings at 379,487,788 shares, according to the latest SEC report filing. OPEN stock had 104 new institutional investments in for a total of 49,335,128 shares, while 33 institutional investors sold positions of 8,786,544 shares during the same period.