Opendoor Technologies Inc. [OPEN] fell -93.02% so far this year. What now?

Opendoor Technologies Inc. [NASDAQ: OPEN] plunged by -$0.01 during the normal trading session on Friday and reaching a high of $1.05 during the day while it closed the day at $1.02. The company report on December 1, 2022 that Opendoor Appoints CFO Carrie Wheeler to CEO; Co-Founder and CEO Eric Wu Transitions to New Role as President, Marketplace.

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Opendoor Technologies Inc. (“Opendoor”) (Nasdaq: OPEN), a leading e-commerce platform for residential real estate transactions, today announced changes to the executive leadership team and Board of Directors, including the appointment of Chief Financial Officer Carrie Wheeler as Chief Executive Officer and the transition of Eric Wu to a new role as President, Marketplace, effective immediately. Ms. Wheeler will join the Board and Mr. Wu will continue to serve as a member of the Board. John Rice, who has served on the Opendoor Board since 2021, has been appointed Lead Independent Director. In connection with these changes, Opendoor has expanded the size of its Board to nine directors.

“I am honored to have the opportunity to lead Opendoor as we transform the way to buy and sell real estate,” said Ms. Wheeler. “We’ve built a solid financial foundation with a strong balance sheet and liquidity position that sets us up to not just manage through this current housing cycle but emerge stronger with market leadership. We will be focused on continuing to drive operational excellence, enhancing our unit economics, and delivering a best-in-class customer experience. Furthermore, we are excited to continue to innovate and empower Eric to drive the development of our third-party marketplace.”.

Opendoor Technologies Inc. stock has also loss -19.05% of its value over the past 7 days. However, OPEN stock has declined by -66.67% in the 3 months of the year. Over the past six months meanwhile, it has lost -81.22% and lost -93.02% year-on date.

The market cap for OPEN stock reached $653.20 million, with 629.53 million shares outstanding and 537.71 million shares in the current float. Compared to the average trading volume of 24.56M shares, OPEN reached a trading volume of 14311892 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPEN shares is $4.29 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 2.40. 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.

Truist have made an estimate for Opendoor Technologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 21, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Neutral. The new note on the price target was released on December 13, 2022, representing the official price target for Opendoor Technologies Inc. stock. Previously, the target price had yet another drop from $7 to $2, while Goldman kept a Sell rating on OPEN stock.

The Average True Range (ATR) for Opendoor Technologies Inc. is set at 0.18, with the Price to Sales ratio for OPEN stock in the period of the last 12 months amounting to 0.04. The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 2.35.

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 -19.05. With this latest performance, OPEN shares dropped by -47.15% in over the last four-week period, additionally sinking by -81.22% over the last 6 months – not to mention a drop of -93.15% 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 30.91, with the RSI for the last a single of trading hit 26.42, and the three-weeks RSI is set at 33.32 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 1.8770, while it was recorded at 1.1560 for the last single week of trading, and 4.8589 for the last 200 days.

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

Opendoor Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 2.70.

Earnings per share (EPS) analysis for Opendoor Technologies Inc. [OPEN] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OPEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Opendoor Technologies Inc. go to 5.20%.

Opendoor Technologies Inc. [OPEN]: Insider Ownership positions

There are presently around $441 million, or 69.00% of OPEN stock, in the hands of institutional investors. The top three institutional holders of OPEN stocks are: VANGUARD GROUP INC with ownership of 63,028,594, which is approximately 2.885% of the company’s market cap and around 6.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 33,251,398 shares of the stock with an approximate value of $33.92 million in OPEN stocks shares; and SYLEBRA CAPITAL LTD, currently with $32.89 million in OPEN stock with ownership of nearly 5.628% 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 168 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 86,498,654 shares. Additionally, 129 investors decreased positions by around 100,675,748 shares, while 80 investors held positions by with 244,741,596 shares. The mentioned changes placed institutional holdings at 431,915,998 shares, according to the latest SEC report filing. OPEN stock had 51 new institutional investments in for a total of 18,154,973 shares, while 52 institutional investors sold positions of 42,848,477 shares during the same period.


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