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With 24.35% Distance From Low, Is Opendoor Technologies Inc. (NASDAQ:OPEN) Still Renewed For Growth?

In last trading session, Opendoor Technologies Inc. (NASDAQ:OPEN) saw 27.73 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.93 trading at $0.29 or 17.68% at ring of the bell on the day assigns it a market valuation of $1.33B. That closing price of OPEN’s stock is at a discount of -849.22% from its 52-week high price of $18.32 and is indicating a premium of 24.35% from its 52-week low price of $1.46. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 32.5 million shares which gives us an average trading volume of 21.37 million if we extend that period to 3-months.

For Opendoor Technologies Inc. (OPEN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.30. Splitting up the data highlights that, out of 13 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 8 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.52 in the current quarter.

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Opendoor Technologies Inc. (NASDAQ:OPEN) trade information

Upright in the green during last session for gaining 17.68%, in the last five days OPEN remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $1.93 price level, adding 0.52% to its value on the day. Opendoor Technologies Inc.’s shares saw a change of -86.79% in year-to-date performance and have moved 0.52% in past 5-day. Opendoor Technologies Inc. (NASDAQ:OPEN) showed a performance of -29.04% in past 30-days. Number of shares sold short was 79.82 million shares which calculate 3.9 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $4.57 to the stock, which implies a rise of 57.77% to its current value. Analysts have been projecting $1.55 as a low price target for the stock while placing it at a high target of $13.00. It follows that stock’s current price would drop -573.58% in reaching the projected high whereas dropping to the targeted low would mean a gain of 19.69% for stock’s current value.

Opendoor Technologies Inc. (OPEN) estimates and forecasts

Statistics highlight that Opendoor Technologies Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -69.94% of value to its shares in past 6 months, showing an annual growth rate of -325.00% while that of industry is 14.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -477.80% in the current quarter and calculating -58.60% decrease in the next quarter. This year revenue growth is estimated to rise 82.50% from the last financial year’s standing.

12 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.6 billion for the same. And 12 analysts are in estimates of company making revenue of $2.69 billion in the next quarter that will end on Dec 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -67.40% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -138.80% while estimates for its earnings growth in next 5 years are of 5.20%.

OPEN Dividends

Opendoor Technologies Inc. is more likely to be releasing its next quarterly report between February 22 and February 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Opendoor Technologies Inc. (NASDAQ:OPEN)’s Major holders

Insiders are in possession of 15.42% of company’s total shares while institution are holding 72.82 percent of that, with stock having share float percentage of 86.10%. Investors also watch the number of corporate investors in a company very closely, which is 72.82% institutions for Opendoor Technologies Inc. that are currently holding shares of the company. Vanguard Group, Inc. (The) is the top institutional holder at OPEN for having 61.26 million shares of worth $288.54 million. And as of Jun 29, 2022, it was holding 9.74% of the company’s outstanding shares.

The second largest institutional holder is Price (T.Rowe) Associates Inc, which was holding about 52.49 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.35% of outstanding shares, having a total worth of $247.24 million.

On the other hand, Vanguard Specialized-Real Estate Index Fund and Price (T.Rowe) Blue Chip Growth Fund Inc. are the top two Mutual Funds which own company’s shares. As of Jul 30, 2022, the former fund manager was holding 18.59 million shares of worth $91.26 million or 2.96% of the total outstanding shares. The later fund manager was in possession of 14.08 million shares on Jun 29, 2022, making its stake of worth around $66.32 million in the company or a holder of 2.24% of company’s stock.

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