Streetbeat News

OPEN

Opendoor Technologies Inc.

https://www.opendoor.com

Industry

Real Estate - Services

Opendoor Technologies Inc. operates a digital platform for residential real estate in the United States. The company's platform enables consumers to buy and sell a home online. It also provides title insurance and escrow services. Opendoor Technologies Inc. was incorporated in 2013 and is based in Tempe, Arizona.

Open

1.76

Mkt cap

1.2B

Volume

32M

High

1.77

P/E Ratio

-3.07

52-wk high

4.89

Low

1.65

Div yield

N/A

52-wk low

1.58

Real estate stocks fell as mortgage rates rose to a 4-month high, with the Real Estate Select Sector SPDR Fund (XLRE) dropping 0.3%, indicating negative investor sentiment. Mortgage rates reached 7.13%, the highest since early December, amid strong economic data and persistent inflation. Housing starts declined by 14.7% month-over-month in March, with both single-family and multifamily sectors experiencing downturns. Real estate stocks like Prologis, Inc. (PLD) and SL Green Realty Corp. (SLG) saw significant movements.

Portfolio Pulse from Piero Cingari

April 17, 2024 | 3:23 pm

The article highlights the top 3 oversold real estate stocks, identified by their low RSI values, suggesting potential for gains. American Tower Corporation (AMT), Zillow Group, Inc. (ZG), and Opendoor Technologies Inc. (OPEN) are mentioned as having RSI values near or below 30, indicating they are oversold. Recent analyst actions and price movements for each stock are also detailed.

Portfolio Pulse from Avi Kapoor

April 16, 2024 | 11:46 am

JMP Securities analyst Nicholas Jones has reiterated a 'Market Outperform' rating on Opendoor Technologies (NASDAQ:OPEN), with a maintained price target of $4.5. This reaffirmation highlights the analyst's positive outlook on the company's stock performance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:48 pm

Ascent Solar Technologies, Inc. (ASTI) shares fell by 50% after announcing a $6 million public offering at $0.14 per share. Other stocks experienced significant movements, with Marin Software (MRIN) and Adial Pharmaceuticals (ADIL) among the top gainers, while VIA optronics (VIAO) and Velo3D, Inc. (VLD) led the losers.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 6:07 pm

Opendoor Technologies (NYSE:OPEN) has seen a 5.1% increase in its short percent of float since the last report, reaching 13.82% of all shares available for trading. With 77.12 million shares sold short, it would take about 3.99 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards OPEN, although it doesn't necessarily predict a near-term price drop. Compared to its peers, OPEN has a higher short interest, suggesting more bearish sentiment among investors towards the company.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 5:15 pm

REX American Resources Corporation (NYSE:REX) reported quarterly GAAP earnings of $1.16 per share, surpassing estimates of 68 cents, causing its shares to jump 23.2% to $54.15. Other stocks also saw significant gains, including Avalo Therapeutics, Inc. (NASDAQ:AVTX) with a 430% increase after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a private placement financing of up to $185 million. Various companies across different sectors recorded gains in their stock prices following positive earnings reports, acquisitions, and analyst upgrades.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 3:00 pm

The Federal Reserve's indication of potential interest rate cuts in 2024 and 2025 has sparked a rally in the real estate sector, particularly benefiting stocks with high debt levels or exposure to the office industry. The Vanguard Real Estate ETF (VNQ) and the VanEck Office And Commercial Real Estate ETF (DESK) saw increases, along with significant gains for City Office REIT (CIO), Compass Inc. (COMP), Office Properties Income Trust (OPI), Anywhere Real Estate Inc. (HOUS), and Vornado Realty Trust (VNO).

Portfolio Pulse from Piero Cingari

March 21, 2024 | 9:29 pm

The National Association of Realtors (NAR) has reached a $418 million settlement that introduces significant changes to how agent commissions are negotiated, impacting online real estate platforms like Zillow and Redfin. The settlement, effective by mid-July 2024, ends the practice of seller's agents determining buyer's agent compensation and requires written agreements for commissions. This could pose revenue and profit challenges for Zillow and Redfin, which rely heavily on buy-side commissions. However, the settlement also removes a regulatory overhang, and companies with innovative models and technology, including Opendoor and Offerpad, are well-positioned to adapt and potentially benefit in the long term.

Portfolio Pulse from Surbhi Jain

March 18, 2024 | 7:12 pm

Fluor Corporation's shares fell by 7.7% following its Q4 results, with earnings beating estimates but sales missing expectations. Other stocks moved significantly in Tuesday's session, with notable gainers including TRxADE HEALTH, AgriFORCE Growing Systems, and Monopar Therapeutics, among others, due to various positive announcements. Losers included RAPT Therapeutics, MicroCloud Hologram, and Summit Therapeutics, primarily due to negative news or disappointing results.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 6:21 pm

Analyst ratings for Opendoor Technologies (NASDAQ:OPEN) show mixed sentiments, with recent updates varying from bullish to bearish. The average 12-month price target has increased to $3.95, up 16.86% from the previous $3.38. Despite this positive shift, Opendoor faces challenges, including a significant revenue decline of -70.84% as of September 30, 2023, and below-average net margin and ROA. However, its ROE outperforms industry benchmarks, and its conservative debt management is noted.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 8:00 pm

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