Overstock.com Inc. (OSTK) receives a Neutral rating from Piper Sandler

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Overstock.com Inc.’s recent filing unveils that its Director Nettles William Benjamin JR acquired Company’s shares for reported $50644.0 on Aug 22. In the deal valued at $24.68 per share,2,052 shares were bought. As a result of this transaction, Nettles William Benjamin JR now holds 10,385 shares worth roughly $ 0.28 million.

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Then, Messing Barbara sold 592 shares, generating $19,791 in total proceeds. Upon selling the shares at $33.43, the Director now owns 5,635 shares.

Before that, Weight Joel sold 2,500 shares. Overstock.com Inc. shares valued at $90,625 were divested by the CHIEF TECHNOLOGY OFFICER at a price of $36.25 per share. As a result of the transaction, Weight Joel now holds 12,373 shares, worth roughly $0.34 million.

Piper Sandler downgraded its Overstock.com Inc. [OSTK] rating to a Neutral from a an Overweight in a research note published on Tuesday, April 21, 2023; the price target was decreased to $19 from $29. PT values the company’s stock at a premium of -44.37 to its Tuesday closing price.

Price Performance Review of OSTK

On Tuesday, Overstock.com Inc. [NASDAQ:OSTK] saw its stock jump 3.35% to $27.43. On the same session, the stock had its day’s lowest price of $26.04, but rose to a high of $27.66. Over the last five days, the stock has gained 7.99%. Overstock.com Inc. shares have risen nearly 41.68% since the year began. Nevertheless, the stocks have risen 6.19% over the past one year. While a 52-week high of $39.27 was reached on 08/02/23, a 52-week low of $17.05 was recorded on 01/04/23. SMA at 50 days reached $29.90, while 200 days put it at $22.97. A total of 1.37 million shares were traded, compared to the trading of 1.01 million shares in the previous session.

Levels Of Support And Resistance For OSTK Stock

The 24-hour chart illustrates a support level at 26.43, which if violated will result in even more drops to 25.42. On the upside, there is a resistance level at 28.05. A further resistance level may holdings at 28.66. The Relative Strength Index (RSI) on the 14-day chart is 47.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.02%. Stochastics %K at 47.57% indicates the stock is a holding.

How much short interest is there in Overstock.com Inc.?

A steep rise in short interest was recorded in Overstock.com Inc. stocks on Aug 14, 2023, dropping by -0.31 million shares to a total of 5.18 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.49 million shares. There was a decline of -5.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.26.

According to FactSet, Overstock.com Inc.’s share price will average $41.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.41 percent from its previous closing price of $26.54. Analysts expect Overstock.com Inc. stock to reach the higher price of $87.00, while the lowest price estimate is $19.00. However, 10 analysts have rated OSTK stock as a Hold in their predictions for 2023.


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