BTIG Research has recently reduced Opendoor Technologies Inc (OPEN) stock to Neutral rating, as announced on December 20, 2023, according to Finviz. Earlier, on December 13, 2023, Keefe Bruyette had raised the stock from a Underperform to Mkt Perform, setting a price target of $3.50. Deutsche Bank also initiated Hold rating with a price target of $$2.80. Additionally, UBS initiated Neutral rating on September 29, 2023, with a target price of $2.75. Gordon Haskett analysts, in their report published on September 26, 2023, also raised Hold rating and set a price target of $2.50 for Opendoor Technologies Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Opendoor Technologies Inc (OPEN) Stock Trading Recap
On Sunday, Opendoor Technologies Inc (OPEN) stock saw a decline, ending the day at $1.38 which represents a decrease of $-0.05 or -3.50% from the prior close of $1.43. The stock opened at $1.42 and touched a low of $1.35 during the day, reaching a high of $1.46. The volume of shares traded was 28.82 million falling short of the average volume of 40.17 million.
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OPEN Stock Performance and Moving Averages
In recent trading, Opendoor Technologies Inc (OPEN) stock price has shown some volatility, fluctuating -1.43% over the last five trades and -14.29% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -40.52%, and it has plunged by -22.91% in the previous three months. Currently, OPEN is trading at -6.73%, -20.78%, and -30.14% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, OPEN, a Real Estate sector stock, is trading -63.49% below its 52-week high but remains 3.76% above its 52-week low. The Average True Range (ATR) (14 days) of 0.13 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Opendoor Technologies Inc’s Profitability and Valuation Ratios
Opendoor Technologies Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -6.82% and a profit margin of -7.49%, with a gross margin of -40.52%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Opendoor Technologies Inc’s market capitalization stands at $986.80 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 0.2, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.23, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 16.52% of Opendoor Technologies Inc (OPEN)’s shares, while financial institutions hold 51.94%.
Notable insider trades include Schaub Sydney, Chief Legal Officer at Opendoor Technologies Inc (OPEN), who sold 74801 shares on Dec 16 ’24, at $1.88 each, totaling $0.14 million. On Dec 16 ’24, WHEELER CARRIE, Chief Executive Officer, sold 552408 shares for $1.88 each, amounting to $1.04 million. Additionally, on Oct 15 ’24, Meyer Megan D. sold 115020 shares at $1.91 each, generating $0.22 million.
