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Wednesday, September 27, 2023

Is Opendoor Technologies Inc. (NASDAQ: OPEN) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Opendoor Technologies Inc. (OPEN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.02, or 0.57%, to $3.52. The Opendoor Technologies Inc. has recorded 230,366 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Opendoor Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

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Stocks Info

OPEN belongs to the Real Estate sector of the NASDAQ while operating in the Real Estate Services industry. At the end of the last regular session, the stock closed at $3.50 and fluctuated between $3.6950 as its day high and $3.4800 as its day low. The current market capitalization of Opendoor Technologies Inc. is $2.28B. A total of 14.29 million shares were traded on the day, compared to an average of 22.76M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, OPEN has seen 6 BUY and 10 SELL insider trades, representing the acquisition of 552,996 and the disposition of 1,713,642 shares. Over the last 12 months, there were 13 BUYs and 63 SELLs from insiders. Insiders purchased 17,599,791 shares during that period but sold 19,297,727.

In the most recent transaction, Wu Eric Chung-Wei sold 500,000 shares of OPEN for 3.76 per share on Sep 11. After the transaction, the Director now owns 19,579,420 company shares. In a previous transaction on Sep 05, Schwartz Christina sold 25,224 shares at 3.88 per share. OPEN shares that owns now total 704,736.

Among the insiders who sold shares, Wu Eric Chung-Wei disposed of 51,256 shares on Aug 15 at a per-share price of $3.42. This resulted in the Director holding 20,079,420 shares of OPEN after the transaction. In another insider transaction, Wu Eric Chung-Wei sold 500,000 shares at $3.43 per share on Aug 09. Company shares held by the Director now total 20,130,676.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for OPEN in the last 3 months, the mean price target is $3.31 with high estimates of $7.00 and low estimates of $1.00. In terms of 52-week highs and lows, OPEN has a high of $5.41 and a low of $0.92.

As of this writing, OPEN has an earnings estimate of -$0.16 per share for the current quarter. EPS was calculated based on a consensus of 6 estimates, with a high estimate of -$0.12 per share and a lower estimate of -$0.2. The company reported an EPS of -$0.64 in the last quarter, which was 3.00% higher than expectations of -$0.66.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. OPEN’s latest balance sheet shows that the firm has $2.21B in Cash & Short Term Investments as of fiscal 2021. There were $7.11B in debt and $4.40B in liabilities at the time. Its Book Value Per Share was $1.68, while its Total Shareholder’s Equity was $2.25B.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for OPEN is Buy with a score of 3.20.

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