Opendoor Technologies Inc. [OPEN] is -92.06% lower this YTD. Is it still time to buy?

Opendoor Technologies Inc. [NASDAQ: OPEN] stock went on an upward path that rose over 2.65% on Friday, amounting to a one-week price increase of more than 12.62%. 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.”.

Over the last 12 months, OPEN stock dropped by -92.12%. The one-year Opendoor Technologies Inc. stock forecast points to a potential upside of 72.96. The average equity rating for OPEN stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $716.60 million, with 629.53 million shares outstanding and 537.71 million shares in the current float. Compared to the average trading volume of 24.67M shares, OPEN stock reached a trading volume of 21366783 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.16, 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 0.49, with the Price to Cash per share for the same quarter was set at 2.44.

OPEN Stock Performance Analysis:

Opendoor Technologies Inc. [OPEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.62. With this latest performance, OPEN shares dropped by -37.30% in over the last four-week period, additionally sinking by -77.30% over the last 6 months – not to mention a drop of -92.12% 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 39.22, with the RSI for the last a single of trading hit 42.00, and the three-weeks RSI is set at 38.32 for Opendoor Technologies Inc. [OPEN]. The present Moving Average for the last 50 days of trading for this stock 1.7685, while it was recorded at 1.0660 for the last single week of trading, and 4.7399 for the last 200 days.

Insight into Opendoor Technologies Inc. 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.

OPEN Stock EPS

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 Position Details

There are presently around $496 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 $38.57 million in OPEN stocks shares; and SYLEBRA CAPITAL LTD, currently with $37.41 million in OPEN stock with ownership of nearly 5.628% of the company’s market capitalization.

166 institutional holders increased their position in Opendoor Technologies Inc. [NASDAQ:OPEN] by around 86,291,404 shares. Additionally, 128 investors decreased positions by around 100,645,168 shares, while 79 investors held positions by with 240,676,425 shares. The mentioned changes placed institutional holdings at 427,612,997 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 51 institutional investors sold positions of 42,817,897 shares during the same period.

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