Opendoor Technologies Stock (NASDAQ: OPEN)

Opendoor Technologies Stock (NASDAQ:OPEN), Trade Ideas

Opendoor Technologies

Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.

homes ai

Analyst Color

Large Cap

Macro Economic Events

Mid Cap

REIT

Sector ETFs

Small Cap

Econ #s

Economics

Federal Reserve

Analyst Ratings

ETFs

Real Estate

EXPI

OPEN

REXR

STAG

XLRE

Real estate stocks drop due to poor housing data and high mortgage rates, with concerns for sector&#39;s future. Rates highest since December 2023.

Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: &#39;Inflation Is Proving Tougher To Bring Down&#39;

Long Ideas

News

Penny Stocks

Pre-Market Outlook

Markets

Trading Ideas

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.

Top 3 Real Estate Stocks That Could Lead To Your Biggest Gains This Quarter

Intraday Update

Movers

ACOR

ADIL

ASTI

BNRG

BPTS

BSGM

CISS

DCGO

DECK

DOGZ

DXYZ

EZGO

GRRR

ICCT

IFBD

IMRN

JAGX

KITT

MGAM

MRIN

MRNO

NEOV

NOVA

NUTX

PRFX

RETO

RVMD

TSLA

VERB

VIAO

VINO

Shares of  Ascent Solar Technologies, Inc. (NASDAQ: ASTI) fell sharply during Wednesday’s session after the company announced pricing of a $6 million public offering of shares at $0.14 per share.

Why Ascent Solar Technologies Shares Are Trading Lower By Around 50%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Opendoor Technologies Inc

Open Door Inc

OPEN HSE GROUP CO LTD by OPEN HSE GROUP CO LTD

Open House Group Co Ltd

Open Lending Corp

Open Text Corp

Open Up Group Inc

OpenDAO

OPENLOCKER HOLDING by OpenLocker Holdings Inc.

OpenLocker Holdings Inc

OpenOcean

Openlane Inc

OPENN NEGOTIATION LTD by Openn Negotiation Limited

Openn Negotiation Ltd

Real estate stocks slid at Wednesday&#8217;s market open, weighed down by the latest disappointing data on housing starts and a spike in mortgage rates, darkening the <a href="https://www.benzinga.com/real-estate">outlook for the sector.</a>
By 9:00 a.m. EST, the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) had dropped by 0.3%. This marked its fourth consecutive day of losses and set a course for its lowest close since the end of November 2023. 
The fund has also slipped below its 200-day moving average, a critical long-term benchmark, signaling that investor sentiment has turned negative.
The average interest rate for 30-year fixed-rate mortgages with loan balances up to $766,550 climbed by 12 basis points to 7.13% for the week ending Apr. 12, 2024, according to the latest figures from the Mortgage Bankers Association. This rate is the highest recorded since early December.
On Wednesday, the yield on a 30-year Treasury bond, a key benchmark for long-term mortgage rates, traded at 4.75%, at the highest since mid-November 2023, as Fed Chair Powell admitted that there has been a lack of progress in the disinflation trend. 
Read also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38278182/powell-delays-fed-rate-cuts-we-need-greater-confidence-in-inflation-2-year-yields-spik">Powell Delays Fed Rate Cuts, Says &#8216;We Need Greater Confidence In Inflation&#8217;: 2-Year Yields Spike To 5%</a>
Chart: Real Estate Stocks Fall Below Key Long-Term Moving Average As Inflation Bites Again
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1024x495.png" alt="" class="wp-image-296075" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Weaknesses In Multifamily Segment Continue</h3>
Joel Kan, MBA's Vice President and Deputy Chief Economist, explained the rise in rates, stating, &#8220;Rates increased for the second consecutive week, driven by incoming data indicating that the economy remains strong and inflation is proving tougher to bring down.&#8221;
Despite the uptick in mortgage rates, there was a 3.3% week-over-week increase in the Market Composite Index, which measures mortgage loan application volume.
Kan further noted, &#8220;Application activity picked up, possibly as some borrowers decided to act in case rates continue to rise. Purchase applications were the primary driver of this increase, although they are still about 10% lower than last year's levels. There was a slight uptick in refinance applications, mainly due to a 3% rise in conventional applications.&#8221;
Chart: US 30-Year Mortgage Rates Rose To The Highest Level Since Late November 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1024x495.png" alt="" class="wp-image-296087" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The real estate market&#8217;s challenges are linked to affordability and a shrinking availability as the supply of new homes falls. 
Andrew Foran, an economist at Toronto Dominion Securities, commented on the trend in home building, &#8220;Homebuilding activity moderated in March as weakness in the multifamily segment persisted and the single-family segment gave back most of its considerable gain from the prior month.&#8221;
Data revealed a 14.7% month-over-month decline in housing starts in March, with the figures dropping to 1.32 million annualized units, significantly below the anticipated 1.49 million.
Both the single-family and multifamily sectors experienced declines, with single-family starts down by 12.4% (or 145,000 units) and multifamily starts plummeting by 21.7% (or 83,000 units). This retreat in multifamily starts marked the lowest level since April 2020.
Additionally, residential permits decreased more than expected in March, falling by 4.3% month-over-month to 1.46 million annualized units. This included a 5.7% drop in single-family permits—the first decline in fifteen months—and a 1.2% reduction in multifamily permits.
<h3 class="wp-block-heading">Rising &amp; Falling</h3>
The weakest performers among real estate stocks with a market cap of at least $1 billion on Wednesday were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>)</td>
<td>-6.55%</td>
</tr>
<tr>
<td>First Industrial Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>)</td>
<td>-3.33%</td>
</tr>
<tr>
<td>STAG Industrial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>)</td>
<td>-2.89%</td>
</tr>
<tr>
<td>EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>)</td>
<td>-2.89%</td>
</tr>
<tr>
<td>Rexford Industrial Realty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>)</td>
<td>-2.35%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 09:20 a.m. EDT </figcaption></figure>
Those showing the highest gains were: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>)</td>
<td>3.18%</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>2.55%</td>
</tr>
<tr>
<td>Medical Properties Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>)</td>
<td>2.49%</td>
</tr>
<tr>
<td>eXp World Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NYSE">EXPI</a>)</td>
<td>2.32%</td>
</tr>
<tr>
<td>Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) </td>
<td>2.25%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 09:20 a.m. EDT </figcaption></figure>
Now Read: <a href="https://www.benzinga.com/money/best-reits">Best REITs to Buy in April</a>
Image: Midjourney

Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: 'Inflation Is Proving Tougher To Bring Down'

The most oversold stocks in the real estate sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>American Tower Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amt#NYSE">AMT</a>)</h3>
<ul>
<li>On April 15, Morgan Stanley analyst Simon Flannery maintained American Tower with an Equal-Weight and raised the price target from $183 to $196. The company&rsquo;s stock fell around 6% over the past five days and has a <a href="https://www.benzinga.com/quote/AMT"> 52-week low of $154.58 </a>.</li>
<li>RSI Value: 29.47</li>
<li>AMT Price Action: Shares of American Tower fell 0.6% to close at $178.12 on Monday.</li>
</ul>
<h3>Zillow Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zg#NASDAQ">ZG</a>)</h3>
<ul>
<li>On April 12, JMP Securities analyst Nicholas Jones reiterated Zillow with a Market Outperform and maintained a $68 price target.. The company&rsquo;s stock fell around 9% over the past five days. It <a href="https://www.benzinga.com/quote/ZG"> has a 52-week low </a> of $33.23.</li>
<li>RSI Value: 29.74</li>
<li>ZG Price Action: Shares of Zillow fell 3% to close at $42.41 on Monday.</li>
</ul>
<h3>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>)</h3>
<ul>
<li>On April 12, JMP Securities analyst Nicholas Jones reiterated Opendoor Technologies with a Market Outperform and maintained a $4.5 price target. The company&rsquo;s stock fell around 19% over the past five days and has a 52-week <a href="https://www.benzinga.com/quote/OPEN"> low of $1.25.</a></li>
<li>RSI Value: 29.63</li>
<li>OPEN Price Action: Shares of Opendoor fell 6.4% to close at $2.19 on Monday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38263545/johnson-johnson-likely-to-report-higher-q1-earnings-here-are-the-recent-forecast-changes-from-wall-"> Johnson &amp; Johnson Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts </a>

JMP Securities analyst Nicholas Jones reiterates Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Market Outperform and maintains $4.5 price target.

Price Target

Reiteration

JMP Securities Reiterates Market Outperform on Opendoor Technologies, Maintains $4.5 Price Target

Shares of Ascent Solar Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asti#NASDAQ">ASTI</a>) fell sharply during Wednesday&rsquo;s session after the company announced pricing of a $6 million public offering of <a href="https://www.benzinga.com/quote/ASTI">shares at $0.14 per share</a>.
Ascent Solar Technologies shares dipped 50% to $0.1374 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Marin Software Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrin#NASDAQ">MRIN</a>) shares jumped 152% to $0.7242 after the company announced upgrades to its integration with Microsoft Advertising.</li>
<li>Adial Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adil#NASDAQ">ADIL</a>) gained 75% to $1.9698 after the company announced the publication of a peer-reviewed article highlighting the clinical results, strong safety profile, and high compliance among patients administered AD04.</li>
<li>Infobird Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ifbd#NASDAQ">IFBD</a>) surged 45.3% to $6.00.</li>
<li>ReTo Eco-Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/reto#NASDAQ">RETO</a>) gained 45% to $1.67.</li>
<li>Meiwu Technology Company Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wnw#NASDAQ">WNW</a>) shares jumped 36% to $1.37.</li>
<li>Nano Labs Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/na#NASDAQ">NA</a>) surged 31.6% to $1.9502. Nano Labs recently filed annual report on Form 20-F for fiscal year 2023.</li>
<li>iCoreConnect Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icct#NASDAQ">ICCT</a>) shares jumped 30.8% to $1.4650. iCoreConnect, last month, closed $2,375,000 convertible note financing.</li>
<li>Dogness (International) Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dogz#NASDAQ">DOGZ</a>) climbed 22.9% to $8.48.</li>
<li>NeoVolta Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neov#NASDAQ">NEOV</a>) surged 18% to $2.0826.</li>
<li>BioSig Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bsgm#NASDAQ">BSGM</a>) rose 18% to $1.92.</li>
<li>Verb Technology Company, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/verb#NASDAQ">VERB</a>) climbed 18% to $0.2099.</li>
<li>Jaguar Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jagx#NASDAQ">JAGX</a>) gained 16.7% to $0.1050 after the company reported approval for all proposals at its special meeting of stockholders.</li>
<li>Murano Global Investments Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrno#NASDAQ">MRNO</a>) rose 13.6% to $11.70.</li>
<li>Gaucho Group Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vino#NASDAQ">VINO</a>) surged 12.5% to $0.61.</li>
<li>Aurora Cannabis Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>) gained 11.8% to $7.11. International Star Inc. appointed Todd Masse as new CEO.</li>
<li>Revolution Medicines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvmd#NASDAQ">RVMD</a>) rose 8.4% to $35.76.</li>
<li>Immuron Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imrn#NASDAQ">IMRN</a>) climbed 6.5% to $2.9731 after the company disclosed record sales (unaudited) of Travelan&reg;.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>VIA optronics AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/viao#NYSE">VIAO</a>) shares dipped 52.9% to $0.4238. VIA optronics announced intention to voluntarily delist its ADSs from the New York Stock Exchange. VIA optronics and Antolin unveiled Sunrise, a new horizon of integration in vehicle cockpits.</li>
<li>Velo3D, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vld#NYSE">VLD</a>) fell 40.1% to $0.2783 after the company announced pricing of a $12 million public offering.</li>
<li>EZGO Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ezgo#NASDAQ">EZGO</a>) declined 27.6% to $0.0441. EZGO Technologies revealed a 1-for-40 reverse share split effective April 12, 2024.</li>
<li>C3is Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciss#NASDAQ">CISS</a>) fell 22% to $0.0326. C3IS announced a reverse stock split.</li>
<li>Nutex Health Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nutx#NASDAQ">NUTX</a>) dipped 18.6% to $0.9525.</li>
<li>SMART Global Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sgh#NASDAQ">SGH</a>) fell 18.4% to $21.13. Smart Global posted better-than-expected results for its second quarter. The company saw third-quarter earnings of 30 cents per share, plus or minus 15 cents, versus the 28 cent estimate. The company expects third-quarter revenue of $300 million, plus or minus $25 million, versus the $307.864 million estimate.</li>
<li>DocGo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dcgo#NASDAQ">DCGO</a>) fell 18.2% to $3.15. Stifel analyst David Grossman maintained DocGo with a Buy and lowered the price target from $11 to $8.</li>
<li>Gorilla Technology Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/grrr#NASDAQ">GRRR</a>) dipped 18.2% to $0.6216. Gorilla Technology and Thames Freeport announced a strategic alliance.</li>
<li>Nauticus Robotics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/kitt#NASDAQ">KITT</a>) declined 18% to $0.21 following weak quarterly sales.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) fell 17.8% to $52.65 after dipping over 35% on Tuesday.</li>
<li>Acorda Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acor#NASDAQ">ACOR</a>) dipped 16.7% to $0.85.</li>
<li>Brenmiller Energy Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bnrg#NASDAQ">BNRG</a>) declined 15.5% to $2.01.</li>
<li>PainReform Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prfx#NASDAQ">PRFX</a>) fell 15.2% to $1.28 after declining 11% on Tuesday. PainReform recently announced results from new studies demonstrating the superior in-vitro release (IVR) rates of PRF-110 compared to topical post-surgical pain management products available in the market.</li>
<li>Sunnova Energy International Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nova#NYSE">NOVA</a>) fell 14.5% to $4.6150 after jumping around 18% on Tuesday.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) dipped 14% to $0.3699. Kineta recently reported initial clinical response data at the AACR 2024 of its ongoing Phase 1/2 VISTA-101 clinical trial.</li>
<li>Hexcel Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hxl#NYSE">HXL</a>) fell 12.1% to $62.58 after B of A Securities downgraded the stock from Neutral to Underperform and lowered its price target from $75 to $65.</li>
<li>Mobile Global Esports Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgam#NASDAQ">MGAM</a>) fell 12% to $0.19 after surging around 78% on Tuesday.</li>
<li>Rocket Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rkt#NYSE">RKT</a>) declined 11.1% to $12.55.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) dipped 9.8% to $2.47.</li>
<li>Biophytis S.A. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bpts#NASDAQ">BPTS</a>) fell 9.6% to $0.3560. Biophytis shares jumped around 32% on Tuesday after the company reported a year-over-year increase in FY23 EPS results.</li>
<li>Sunrun Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/run#NASDAQ">RUN</a>) fell 9.5% to $11.78. Sunrun priced $230 million senior securitization of residential solar &amp; battery systems.</li>
<li>Valley National Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vly#NASDAQ">VLY</a>) fell 8.2% to $7.34.</li>
<li>Deckers Outdoor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/deck#NYSE">DECK</a>) dipped 7.7% to $801.03 after Truist Securities downgraded the stock from Buy to Hold and lowered its price target from $983 to $864.</li>
<li>RH (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rh#NYSE">RH</a>) fell 7.4% to $267.43.</li>
<li>Wayfair Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/w#NYSE">W</a>) dipped 6.7% to $61.87.</li>
<li>Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) declined 3.1% to $171.44 after analysts at Jefferies and Piper Sandler lowered their price targets on the stock.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38183479/bitcoin-falls-below-70-000-following-inflation-data-gala-becomes-top-loser"> Bitcoin Falls Below $70,000 Following Inflation Data; Gala Becomes Top Loser</a>

Why Ascent Solar Technologies Shares Are Trading Lower By Around 50%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

A fresh unexpected surge in inflation blindsided markets, shattering hopes for imminent Fed rate cuts and sending stocks down across the board. In March 2024, the annual Consumer Price Index (CPI) inflation rate surged to 3.5%, up from February&#8217;s 3.2%, surpassing <a href="https://www.benzinga.com/markets/commodities/24/04/38181302/inflation-rises-more-than-expected-to-3-5-in-march-derails-june-rate-cut-hopes">expectations set at 3.4%. </a>
Adding to concerns, core inflation, which excludes energy and food, also exceeded expectations, reaching 3.8% compared to the anticipated 3.7%, dismissing any justifications solely attributed to higher gasoline price pressures. 
Consequently, investors sharply revised down their expectations for Fed rate cuts, now anticipating the commencement of any easing policy no earlier than September, with less than two rate cuts expected by year-end.
<h3 class="wp-block-heading">What&#8217;s Hot/Cold In The CPI Basket?</h3>
Expenditure categories witnessing the highest month-over-month seasonally adjusted price increase in March were: 
<ul>
<li>Motor vehicle insurance: +2.6%</li>
<li>Motor vehicle maintenance and repair: +1.7%</li>
<li>Gasoline (all types): +1.7%</li>
<li>Hospital services: +1%</li>
<li>Meats, poultry, fish, and eggs: +0.9%</li>
</ul>
Those showing the lowest monthly inflation were: 
<ul>
<li>Fuel oil: down 1.3%</li>
<li>Used cars and trucks: down 1.1%</li>
<li>Cereals and bakery products: down 0.9%</li>
<li>Other food at home: down 0.5%</li>
<li>Airline fares: down 0.4%</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Sector Performance </h3>
By midday trading in New York, losses were broad-based within indices. 
<ul>
<li>454 out of S&amp;P 500 stocks traded in the red</li>
<li>93 Nasdaq 100 stocks were negative</li>
<li>1,783 out of Russell 2000 stocks were negative</li>
<li>898 out of Russell 1000 stocks were negative</li>
</ul>
No sectors managed to evade daily losses, with rate-sensitive pockets of the markets, such as real estate, feeling the brunt more acutely than others.
Energy managed to hold almost steady, as rising gasoline prices improved the outlook for oil companies. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-Day %Chg</th>
</tr>
</thead>
<tbody>
<tr>
<td> Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-0.75%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-0.92%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-0.93%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-1.07%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-1.17%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-1.35%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-1.44%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-1.54%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>-1.93%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-3.85%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated At 11:40 a.m. ET</figcaption></figure>
Nine real-estate stocks tumbled by more than 7%: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>-10.04%</td>
</tr>
<tr>
<td>Global Net Lease, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNL#NYSE">GNL</a>)</td>
<td>-9.83%</td>
</tr>
<tr>
<td>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>)</td>
<td>-9.26%</td>
</tr>
<tr>
<td>Hudson Pacific Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>)</td>
<td>-8.82%</td>
</tr>
<tr>
<td>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>)</td>
<td>-8.36%</td>
</tr>
<tr>
<td>Piedmont Office Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDM#NYSE">PDM</a>)</td>
<td>-7.77%</td>
</tr>
<tr>
<td>RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>)</td>
<td>-7.75%</td>
</tr>
<tr>
<td>eXp World Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NYSE">EXPI</a>)</td>
<td>-7.63%</td>
</tr>
<tr>
<td>Douglas Emmett, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</td>
<td>-7.44%</td>
</tr>
<tr>
<td>Office Properties Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>)</td>
<td>-7.31%</td>
</tr>
</tbody>
</table>
</figure>
Looking at different industries, regional banks and solar stocks fell the most. 
<ul>
<li>The SPDR S&amp;P Regional Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) fell 4.7%, on track for the worst day since late January. </li>
<li>The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 4.5%</li>
</ul>
Eight regional bank stocks tumbled more than 7% Wednesday: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Lakeland Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NYSE">LBAI</a>)</td>
<td>-8.96%</td>
</tr>
<tr>
<td>Provident Financial Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>)</td>
<td>-8.84%</td>
</tr>
<tr>
<td>Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>)</td>
<td>-8.44%</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>-7.81%</td>
</tr>
<tr>
<td>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>)</td>
<td>-7.61%</td>
</tr>
<tr>
<td>OceanFirst Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NYSE">OCFC</a>)</td>
<td>-7.58%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NYSE">FFIC</a>)</td>
<td>-7.53%</td>
</tr>
<tr>
<td>Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>)</td>
<td>-7.50%</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38186082/this-puts-the-fed-in-quite-a-tricky-position-7-economists-weigh-in-on-march-inflati">&#8216;This Puts The Fed In Quite A Tricky Position&#8217;: 7 Economists Weigh In On March Inflation Report</a>
Image generated using artificial intelligence via Midjourney.

Equities

EGBN

FFIC

HOUS

LBAI

NYCB

OCFC

PKST

RMAX

SFBS

Select Sector SPDR-Consumer Discretionary

Real Estate, Regional Bank Stocks Tank, Energy Cushions The Blow: March Inflation Rates Shake Up Sectors

Opendoor Technologies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>) short percent of float has risen 5.1% since its last report. The company recently reported that it has 77.12 million shares sold short, which is 13.82% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.99 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Opendoor Technologies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712337321_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Opendoor Technologies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Opendoor Technologies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Opendoor Technologies's peer group average for short interest as a percentage of float is 6.44%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Opendoor Technologies's Recent Short Interest

U.S. stocks were slightly higher, with the S&amp;P 500 gaining around 0.1% on Thursday.
Shares of REX American Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rex#NYSE">REX</a>) rose sharply during Thursday&rsquo;s session following <a href="https://www.benzinga.com/quote/REX/earnings">upbeat quarterly earnings.</a>
REX American Resources posted quarterly GAAP earnings of $1.16 per share, versus market estimates of 68 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
REX American Resources shares jumped 23.2% to $54.15 on Thursday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Avalo Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avtx#NASDAQ">AVTX</a>) shares gained 430% to $25.35 after the company announced it acquired a Phase 2-ready anti-IL-1&beta; mAb, which it refers to as AVTX-009, through the acquisition of privately held AlmataBio. The company also announced a private placement financing of up to $185 million.</li>
<li>Hut 8 Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hut#NASDAQ">HUT</a>) surged 20.4% to $11.87. Hut 8 Corp reported revenue of C$60.6 million for the six months ended Dec. 31, 2023.</li>
<li>RH (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rh#NYSE">RH</a>) gained 16.2% to $344.99 following the release of quarterly results. RH posted weaker-than-expected results for its fourth quarter, but issued upbeat forecast.</li>
<li>Sutro Biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stro#NASDAQ">STRO</a>) climbed 14.4% to $5.64. Oppenheimer analyst Jay Olson maintained Sutro Biopharma with an Outperform and maintained a $10 price target.</li>
<li>Nikola Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nkla#NASDAQ">NKLA</a>) rose 12.7% to $1.0250.</li>
<li>OPKO Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/opk#NASDAQ">OPK</a>) rose 12.1% to $1.1996. Labcorp announced acquisition of select assets of BioReference Health&#39;s Diagnostics Business.</li>
<li>Altimmune, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alt#NASDAQ">ALT</a>) gained 11.4% to $9.90. Altimmune recently released lean mass preservation data for pemvidutide and worse-than-expected fourth-quarter FY23 earnings.</li>
<li>Marathon Digital Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) climbed 10.4% to $24.37.</li>
<li>Guardant Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gh#NASDAQ">GH</a>) gained 8.4% to $19.48.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) surged 8% to $3.1850.</li>
<li>Arhaus, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arhs#NASDAQ">ARHS</a>) gained 7.7% to $15.94.</li>
<li>Riot Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) rose 6.8% to $13.07.</li>
<li>BRP Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dooo#NASDAQ">DOOO</a>) gained 6.4% to $67.74 after the company reported fourth-quarter results.</li>
<li>Encompass Health Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ehc#NYSE">EHC</a>) gained 5.8% to $82.06. Barclays analyst Andrew Mok maintained Encompass Health with an Overweight and raised the price target from $95 to $101.</li>
<li>The Est&eacute;e Lauder Companies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/el#NYSE">EL</a>) rose 5.4% to $152.85 after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $160 to $170.</li>
<li>Exact Sciences Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exas#NASDAQ">EXAS</a>) gained 4.7% to $70.01.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37984469/bitcoin-trades-above-70-000-following-gdp-jobless-claims-data-gatetoken-emerges-as-top-gai"> Bitcoin Trades Above $70,000 Following GDP, Jobless Claims Data; GateToken Emerges As Top Gainer</a>

ARHS

AVTX

DOOO

EXAS

MARA

NKLA

RIOT

STRO

REX American Resources Reports Upbeat Earnings, Joins Avalo Therapeutics, RH And Other Big Stocks Moving Higher On Thursday

The Federal Reserve&#8217;s indication of upcoming interest rate cuts injected optimism into the real estate sector, particularly benefiting stocks under pressure due to exposure to the office industry <a href="https://www.benzinga.com/real-estate/reit">or elevated debt levels.</a>
<h1 class="wp-block-heading">A Shift Towards Speculation</h1>
Thursday&#8217;s session suggests the rally has been more pronounced among real estate companies with higher debt levels 
This shift may signify a growing investor inclination towards speculative stocks within the real estate sector, banking on the premise that forthcoming rate cuts could provide a much-needed respite for real estate investment trusts (REITs) grappling with significant debt burdens.
The Fed&#8217;s March dot plot hints at three rate cuts in 2024, with a further three anticipated the following year. This strategic direction is coupled with an upgraded growth forecast, from 1.4% to 2.1%, painting a potentially brighter picture for the real estate sector.
<h1 class="wp-block-heading">Market Reactions Among Real Estate ETFs And Stocks</h1>
<ul>
<li>The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) experienced an uplift, marking a 0.8% rise on Wednesday followed by a 0.7% increase on Thursday.</li>
<li>Within the ETF&#8217;s portfolio, stocks of companies heavily indebted or linked to the challenged office sector saw the largest gains.</li>
<li>City Office REIT, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIO#NYSE">CIO</a>) skyrocketed by over 16% on Thursday, a significant rebound after a year-to-date loss exceeding 30%. The company&#8217;s net debt stood at more than six times its EBITDA (earnings before interest, taxes, debt and amortization). </li>
<li>Compass Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) and Office Properties Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>): Both companies enjoyed rallies of over 7%. Office Properties Income Trust&#8217;s net debt surpassed its EBITDA by over eight times. </li>
<li>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) and Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>): These companies also featured among the top performers for the day, with shares up 7% and 5.5%, respectively. </li>
<li>The VanEck Office And Commercial Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESK#NYSE">DESK</a>) showcased a back-to-back 2.2% rally on Wednesday and Thursday, indicating office-related REITs positively reacted after the Fed meeting. </li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company Name</td>
<td>1-Day %</td>
<td>Net Debt / EBITDA (FY)</td>
</tr>
<tr>
<td>City Office REIT, Inc.</td>
<td>16.47%</td>
<td>6.8x</td>
</tr>
<tr>
<td>Office Properties Income Trust</td>
<td>8.22%</td>
<td>8.5x</td>
</tr>
<tr>
<td>Compass, Inc.</td>
<td>7.93%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Anywhere Real Estate Inc.</td>
<td>7.10%</td>
<td>8.9x</td>
</tr>
<tr>
<td>DigitalBridge Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBRG#NYSE">DBRG</a>)</td>
<td>6.42%</td>
<td>0.2x</td>
</tr>
<tr>
<td>Vornado Realty Trust</td>
<td>5.47%</td>
<td>9.1x</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>5.37%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>)</td>
<td>4.92%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Zillow Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NYSE">ZG</a>)</td>
<td>4.85%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Diversified Healthcare Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHC#NYSE">DHC</a>)</td>
<td>4.82%</td>
<td>13.0x</td>
</tr>
<tr>
<td>Douglas Emmett, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</td>
<td>4.71%</td>
<td>8.6x</td>
</tr>
</tbody>
</table>
</figure>
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37875455/bank-stocks-hit-all-time-highs-analyst-points-to-further-rally-on-a-1995-soft-landi">Bank Stocks Hit All-Time Highs: Analyst Points To Further Rally On &#8216;A 1995 Soft Landing Scenario&#8217;</a>
Photo: Sean Pollock via Unsplash

COMP

DBRG

DESK

10 Real Estate Stocks Move On Thursday: Fed Rate Cut Possibility Sparks Rally For Troubled Sector

In a significant industry development, the <a href="https://www.benzinga.com//node/37760146">National Association of Realtors (NAR)</a> reached a $418 million settlement to resolve multiple lawsuits, triggering a seismic shift in the <a href="https://www.benzinga.com/real-estate">real estate landscape</a>. 
The proposed changes, set to be implemented by mid-July 2024 pending court approval, would revolutionize how agent commissions were negotiated. This presented both challenges and opportunities for online real estate platforms.
Related: <a href="https://www.benzinga.com//node/37760146">Major NAR Settlement In Real Estate Litigation: Are Commissions About To Get A Lot Lower?</a>
JPMorgan analysts Dae K Lee, CFA and Doug Anmuth shared their takeaways and insights in a research note.
<h1 class="wp-block-heading">Implications for Online Real Estate Platforms</h1>
According to Lee, the settlement introduced pivotal modifications, notably ending the practice of seller&#8217;s agents determining compensation for buyer&#8217;s agents and mandating written agreements between MLS participants and buyers. While this move opened up negotiations on buy-side agent commissions, it also raised uncertainties regarding the future dynamics of the industry.
Online real estate giants such as Zillow Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>) and Redfin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>), heavily reliant on buy-side commissions, face potential revenue and profit headwinds.
Zillow&#8217;s revenue structure, with 48% attributed to buy-side transactions, and Redfin&#8217;s exposure of approximately 45%, underscored the significance of the impending changes. However, innovative business models and tech-driven strategies could mitigate the impact, particularly for platforms focusing on high-quality and efficient agents.
<h1 class="wp-block-heading">Online Real Estate Platforms Remain Well-Positioned</h1>
Despite the anticipated short-term challenges, Lee saw online real estate platforms well-positioned to capitalize on emerging opportunities. With robust engagement metrics and a relentless pursuit of technological innovations, platforms like Zillow, Redfin, Opendoor Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), and Offerpad Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPAD#NYSE">OPAD</a>) are poised to weather the storm and emerge stronger on the other side.
Lee noted the settlement might present near-term challenges for key players in the online real estate sector, but it also eliminated a significant regulatory overhang.
Zillow, with its leading market position and robust margins, emerged as a favored choice within the industry. As the dust settles, the industry&#8217;s response to the settlement and its subsequent adaptation to the new regulatory landscape will shape the future trajectory of online real estate platforms.
Price Action: On Monday at publication, Zillow shares were trading up by 0.96% at $48.17 while Redfin shares were lower by 4.99% at $5.17. Opendoor shares were up 10.11% at $2.94 while Offerpad shares were down 1.73% at $7.96.
Read Next: <a href="https://www.benzinga.com//node/37755630">Zillow Gr Options Trading: A Deep Dive into Market Sentiment</a>
Photo via Pixabay

OPAD

RDFN

Settlement Shake-Up: National Association Of Realtors' $418M Agreement Reshapes Real Estate Dynamics

Shares of Fluor Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flr#NYSE">FLR</a>) fell during Tuesday&rsquo;s session following fourth-quarter results.
Fluor posted adjusted earnings of 68 cents per share, beating market estimates of 57 cents per share. The company&rsquo;s quarterly sales came in at $3.82 billion versus expectations of $4.11 billion.
Fluor shares declined 7.7% to $38.84 on Tuesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>TRxADE HEALTH, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meds#NASDAQ">MEDS</a>) shares jumped 214% to $13.00. TRxADE HEALTH announced the sale of assets of subsidiary Trxade, Inc. to Micro Merchant Systems for $22.5 million, with potential additional $7.5 million payout.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agri#NASDAQ">AGRI</a>) surged 203% to $0.6487. AgriFORCE was granted patent from the USPTO related to its FORCEGH+ facilities.</li>
<li>Monopar Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mnpr#NASDAQ">MNPR</a>) shares jumped 170% to $0.9130. Monopar received clearance to proceed with first-in-human Phase 1 trial of novel radiopharmaceutical MNPR-101-Zr in advanced cancers.</li>
<li>Biofrontera Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfri#NASDAQ">BFRI</a>) gained 125% to $1.69. Biofrontera announced restructuring of supply agreement with Biofronter AG. Biofrontera also announced a $16 million private placement.</li>
<li>Biotricity, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btcy#NASDAQ">BTCY</a>) rose 72.7% to $1.59.</li>
<li>Shineco, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sisi#NASDAQ">SISI</a>) shares climbed 71.8% to $2.5232 after surging more than 16% on Friday. Shineco recently announced plans for a 1-for-10 reverse stock split to regain compliance with Nasdaq minimum bid requirement.</li>
<li>SciSparc Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sprc#NASDAQ">SPRC</a>) gained 52.7% to $5.32. SciSparc reported that as part of its ongoing collaboration with Clearmind Medicine, Clearmind filed three patent applications under the international Patent Cooperation Treaty.</li>
<li>Iovance Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iova#NASDAQ">IOVA</a>) shares rose 37% to $12.55. WuXi Advanced Therapies announced Tuesday that the U.S. Food and Drug Administration (FDA) approved it to begin analytical testing and manufacturing of AMTAGVI for Iovance Biotherapeutics at its Philadelphia site. AMTAGVI received accelerated approval of its BLA on Feb. 16. Iovance also announced on Tuesday the pricing of an underwritten offering of 23,014,000 shares of its common stock at a price of $9.15 per share.</li>
<li>CISO Global Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciso#NASDAQ">CISO</a>) jumped 36% to $0.1359. CISO Global announced independent valuation of over $50 million for its initial IP solutions portfolio.</li>
<li>Intuitive Machines, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lunr#NASDAQ">LUNR</a>) surged 30% to $9.51.</li>
<li>MoneyHero Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mny#NASDAQ">MNY</a>) gained 26% to $2.6599.</li>
<li>Enviva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eva#NYSE">EVA</a>) shares gained 19.3% to $0.39 after falling around 12% on Friday. The Wall Street Journal recently reported that Enviva was preparing to file for bankruptcy.</li>
<li>CURO Group Holdings Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/curo#NYSE">CURO</a>) surged 19.1% to $0.28.</li>
<li>Ocugen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocgn#NASDAQ">OCGN</a>) gained 18% to $1.12 after jumping 27% on Friday.</li>
<li>VIZIO Holding Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vzio#NYSE">VZIO</a>) surged 14.8% to $10.94 after the company inked an agreement to be acquired by Walmart.</li>
<li>Discover Financial Services (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dfs#NYSE">DFS</a>) shares rose 12% to $13.00. Capital One Financial Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cof#NYSE">COF</a>) announced its plans to purchase Discover Financial Services, marking a pivotal $35.3 billion all-stock transaction.</li>
<li>Barclays PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bcs#NYSE">BCS</a>) surged 11.7% to $8.35 after the company reported fourth-quarter financial results and announced its intention to initiate a further share buyback of up to &pound;1 billion.</li>
<li>Qurate Retail, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrtea#NASDAQ">QRTEA</a>) jumped 10.6% to $1.15.</li>
<li>Telephone and Data Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tds#NYSE">TDS</a>) gained 7.7% to $15.13. The company recently reported fourth-quarter financial results and issued FY24 guidance.</li>
<li>D-Wave Quantum Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qbts#NYSE">QBTS</a>) shares gained 7.4% to $1.8692. NEC and D-Wave introduced new quantum offerings to the Australian market.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>RAPT Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rapt#NASDAQ">RAPT</a>) shares fell 62.6% to $9.75 as the company announced a clinical hold on studies evaluating zelnecirnon.</li>
<li>MicroCloud Hologram Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holo#NASDAQ">HOLO</a>) shares fell 32.9% to $44.60 after jumping 114% on Friday.</li>
<li>Summit Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smmt#NASDAQ">SMMT</a>) fell 24.4% to $3.8350 following fourth-quarter results.</li>
<li>Universe Pharmaceuticals INC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/upc#NASDAQ">UPC</a>) shares fell 24% to $1.87 after gaining around 44% on Friday.</li>
<li>VirnetX Holding Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vhc#NYSE">VHC</a>) dipped 23.4% to $7.05.</li>
<li>Sientra, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sien#NASDAQ">SIEN</a>) fell 23.4% to $0.2330.</li>
<li>Better Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bttx#NASDAQ">BTTX</a>) declined 22% to $0.17. Better Therapeutics received FDA breakthrough device designation for digital therapeutic platform targeting advanced liver disease.</li>
<li>AirNet Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ante#NASDAQ">ANTE</a>) fell 21.5% to $0.9499.</li>
<li>Tevogen Bio Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tvgn#NASDAQ">TVGN</a>) shares fell 21.2% to $7.49. Tevogen Bio recently announced an $8 million equity investment.</li>
<li>Tantech Holdings Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tanh#NASDAQ">TANH</a>) fell 20.6% to $0.7701.</li>
<li>Tian Ruixiang Holdings Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tirx#NASDAQ">TIRX</a>) shares fell 20.3% to $0.6760 after gaining 42% on Friday.</li>
<li>Tenaya Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tnya#NASDAQ">TNYA</a>) dipped 18% to $5.18.</li>
<li>Gaxos.ai Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gxai#NASDAQ">GXAI</a>) shares declined 17.3% to $0.5830 after surging 173% on Friday. The company announced that its gaming division will launch an AI solution for game developers and studios.</li>
<li>Evolv Technologies Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evlv#NASDAQ">EVLV</a>) fell 16.4% to $4.370. Evolv Technology responded to short seller misinformation.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lxrx#NASDAQ">LXRX</a>) fell 13.3% to $2.7590.</li>
<li>Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>) fell 12.7% to $700.61. Supermicro announced expansion of AI solutions portfolio.</li>
<li>FLJ Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flj#NASDAQ">FLJ</a>) shares tumbled 11.8% to $1.04. FLJ Group filed annual report on Form 20-F for fiscal year 2023.</li>
<li>InMode Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/inmd#NASDAQ">INMD</a>) fell 11.4% to $20.19.</li>
<li>Lichen China Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/licn#NASDAQ">LICN</a>) dipped 10.8% to $1.24 after gaining around 19% on Friday.</li>
<li>Opendoor Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/open#NASDAQ">OPEN</a>) fell 9.7% to $2.7100.</li>
<li>Arm Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arm#NASDAQ">ARM</a>) fell 8.1% to $117.99.</li>
<li>The Trade Desk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ttd#NASDAQ">TTD</a>) fell 7.6% to $82.18.</li>
<li>Oriental Culture Holding LTD (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocg#NASDAQ">OCG</a>) shares fell 7.4% to $1.04 after gaining 21% on Friday.</li>
<li>SSR Mining Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssrm#NASDAQ">SSRM</a>) fell 7.3% to $4.55. SSR Mining is expected to release its fourth quarter financial results on Feb. 27, 2024. The company also issued an update on ongoing rescue efforts at the &Ccedil;&ouml;pler mine in T&uuml;rkiye. RBC Capital analyst Michael Siperco downgraded SSR Mining from Sector Perform to Underperform and lowered the price target from $6 to $3.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37213790/ethereum-tops-2-900-starknet-filecoin-among-top-gainers"> Ethereum Tops $2,900; Starknet, Filecoin Among Top Gainers</a>

AGRI

ANTE

BFRI

BTCY

BTTX

CISO

CURO

EVLV

GXAI

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

INMD

IOVA

LICN

LUNR

LXRX

MEDS

MNPR

OCGN

QBTS

QRTEA

RAPT

SIEN

SISI

SMCI

SMMT

SPRC

SSRM

TANH

TIRX

TNYA

TVGN

VZIO

Why Fluor Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Analysts' ratings for Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $3.95, a high estimate of $5.00, and a low estimate of $2.80. Witnessing a positive shift, the current average has risen by 16.86% from the previous average price target of $3.38.
<img src="https://www.benzinga.com/files/images/story/2024/1708113646_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Opendoor Technologies among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nicholas Jones</td>
<td>JMP Securities</td>
<td>Lowers</td>
<td>Market Outperform</td>
<td>$4.50</td>
<td>$5.00</td>
</tr>
<tr>
<td>Nicholas Jones</td>
<td>JMP Securities</td>
<td>Raises</td>
<td>Outperform</td>
<td>$5.00</td>
<td>$3.50</td>
</tr>
<tr>
<td>Will Jones</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$3.50</td>
<td>$1.65</td>
</tr>
<tr>
<td>Benjamin Black</td>
<td>Deutsche Bank</td>
<td>Announces</td>
<td>Hold</td>
<td>$2.80</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Opendoor Technologies. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Opendoor Technologies compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Opendoor Technologies's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Opendoor Technologies's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/OPEN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Opendoor Technologies analyst ratings.</a>
<h2>Delving into Opendoor Technologies's Background</h2>
Opendoor Technologies Inc is a digital platform for residential real estate. This platform enables customers to buy and sell houses online. It generates revenue through home sales, along with other revenue from real estate services.
<h3>Breaking Down Opendoor Technologies's Financial Performance</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Opendoor Technologies's financials over 3 months reveals challenges. As of 30 September, 2023, the company experienced a decline of approximately -70.84% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Real Estate sector.
Net Margin: Opendoor Technologies's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of -10.82%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Opendoor Technologies's ROE excels beyond industry benchmarks, reaching -10.07%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Opendoor Technologies's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of -2.59%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Opendoor Technologies's debt-to-equity ratio is below the industry average at 2.8, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>What Are Analyst Ratings?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Forecasting The Future: 4 Analyst Projections For Opendoor Technologies

JMP Securities analyst Nicholas Jones maintains Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) with a Market Outperform and lowers the price target from $5 to $4.5.

JMP Securities Maintains Market Outperform on Opendoor Technologies, Lowers Price Target to $4.5

WIIM

Opendoor Technologies shares are trading lower following Q4 earnings.

Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) reported quarterly losses of $(0.14) per share which beat the analyst consensus estimate of $(0.19) by 26.32 percent. The company reported quarterly sales of $870.00 million which beat the analyst consensus estimate of $826.44 million by 5.27 percent. This is a 69.55 percent decrease over sales of $2.86 billion the same period last year.

Earnings

Earnings Beats

Opendoor Technologies Q4 2023 Adj EPS $(0.14) Beats $(0.19) Estimate, Sales $870.00M Beat $826.44M Estimate

Opendoor Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) reported its Q4 earnings results on Thursday, February 15, 2024 at 04:05 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Opendoor Technologies beat estimated earnings by 22.22%, reporting an EPS of $-0.14 versus an estimate of $-0.18.
Revenue was down $1.99 billion from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.04 which was followed by a 5.0% drop in the share price the next day.
Here's a look at Opendoor Technologies's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.15</td>
<td>-0.38</td>
<td>-0.66</td>
<td>-0.73</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.11</td>
<td>-0.30</td>
<td>-0.64</td>
<td>-0.74</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>1.01B</td>
<td>1.84B</td>
<td>2.68B</td>
<td>2.47B</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>980.00M</td>
<td>1.98B</td>
<td>3.12B</td>
<td>2.86B</td>
</tr>
</tbody>
</table>

To track all earnings releases for Opendoor Technologies <a href="https://www.benzinga.com/quote/OPEN/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.