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The Chart for Opendoor Technologies Inc. (OPEN) Is Flashing Mixed Signals

Opendoor Technologies Inc. (NASDAQ:OPEN) went up by 17.68% from its latest closing price compared to the recent 1-year high of $18.32. The company’s stock price has collected 0.52% of gains in the last five trading sessions. Barron’s reported on 11/02/22 that Opendoor Cuts 18% of Staff as Higher Mortgage Rates Dent Housing Demand

Is It Worth Investing in Opendoor Technologies Inc. (NASDAQ :OPEN) Right Now?

Opinions of the stock are interesting as 8 analysts out of 13 who provided ratings for Opendoor Technologies Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 3 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $4.57, which is $2.64 above the current price. OPEN currently public float of 537.39M and currently shorts hold a 13.94% ratio of that float. Today, the average trading volume of OPEN was 21.37M shares.

OPEN’s Market Performance

OPEN stocks went up by 0.52% for the week, with a monthly drop of -29.04% and a quarterly performance of -59.88%, while its annual performance rate touched -88.45%. The volatility ratio for the week stands at 10.94% while the volatility levels for the past 30 days are set at 13.43% for Opendoor Technologies Inc. The simple moving average for the period of the last 20 days is -6.59% for OPEN stocks with a simple moving average of -66.15% for the last 200 days.

Analysts’ Opinion of OPEN

Many brokerage firms have already submitted their reports for OPEN stocks, with Goldman repeating the rating for OPEN by listing it as a “Sell.” The predicted price for OPEN in the upcoming period, according to Goldman is $2 based on the research report published on October 17th of the current year 2022.

JP Morgan, on the other hand, stated in their research note that they expect to see OPEN reach a price target of $9. The rating they have provided for OPEN stocks is “Overweight” according to the report published on July 28th, 2022.

Truist gave a rating of “Buy” to OPEN, setting the target price at $9 in the report published on July 13th of the current year.

OPEN Trading at -27.50% from the 50-Day Moving Average

After a stumble in the market that brought OPEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -89.47% of loss for the given period.

Volatility was left at 13.43%, however, over the last 30 days, the volatility rate increased by 10.94%, as shares sank -27.72% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -55.12% lower at present.

During the last 5 trading sessions, OPEN rose by +0.52%, which changed the moving average for the period of 200-days by -80.31% in comparison to the 20-day moving average, which settled at $2.0292. In addition, Opendoor Technologies Inc. saw -86.79% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at OPEN starting from Low Ah Kee Andrew, who sale 151,030 shares at the price of $1.92 back on Nov 16. After this action, Low Ah Kee Andrew now owns 3,367,016 shares of Opendoor Technologies Inc., valued at $289,993 using the latest closing price.

Wu Eric Chung-Wei, the CEO of Opendoor Technologies Inc., sale 67,629 shares at $1.92 during a trade that took place back on Nov 16, which means that Wu Eric Chung-Wei is holding 32,751,029 shares at $129,854 based on the most recent closing price.

Stock Fundamentals for OPEN

Current profitability levels for the company are sitting at:

  • -7.03 for the present operating margin
  • +9.10 for the gross margin

The net margin for Opendoor Technologies Inc. stands at -8.25. Equity return is now at value -54.30, with -12.10 for asset returns.

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