Reviewing The Case For Opendoor Technologies Inc (OPEN) Going Higher

Currently, there are 677.64M common shares owned by the public and among those 570.00M shares have been available to trade.

The company’s stock has a 5-day price change of 7.83% and -26.49% over the past three months. OPEN shares are trading -60.04% year to date (YTD), with the 12-month market performance down to -45.92% lower. It has a 12-month low price of $1.58 and touched a high of $4.89 over the same period. OPEN has an average intraday trading volume of 18.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.47%, -13.36%, and -33.73% respectively.

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Institutional ownership of Opendoor Technologies Inc (NASDAQ: OPEN) shares accounts for 54.38% of the company’s 677.64M shares outstanding.

It has a market capitalization of $1.26B and a beta (3y monthly) value of 2.71. The earnings-per-share (ttm) stands at -$0.59. The company has a debt-to-equity ratio at 2.90. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.23% over the week and 8.83% over the month.

Earnings per share for the fiscal year are expected to decrease by -59.39%, and 19.16% over the next financial year. EPS should shrink at an annualized rate of 5.20% over the next five years, compared to 44.03% over the past 5-year period.

Keefe Bruyette coverage for the Opendoor Technologies Inc (OPEN) stock in a research note released on December 13, 2023 offered a Mkt Perform rating with a price target of $3.50. Deutsche Bank was of a view on November 21, 2023 that the stock is Hold, while UBS gave the stock Neutral rating on September 29, 2023, issuing a price target of $2.75. Gordon Haskett on their part issued Hold rating on September 26, 2023.

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