Overstock.com (NASDAQ:OSTK) Raised to Hold at StockNews.com

Overstock.com (NASDAQ:OSTK – Get Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other equities research analysts have also recently commented on the stock. Piper Sandler boosted their price target on shares of Overstock.com from $19.00 to $20.00 in a research report on Friday, April 28th. TheStreet cut shares of Overstock.com from a “c-” rating to a “d+” rating in a research report on Friday, March 10th. Wedbush restated an “outperform” rating and set a $26.00 price objective on shares of Overstock.com in a report on Friday, April 21st. Barclays cut their price objective on Overstock.com from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, February 23rd. Finally, DA Davidson cut their price objective on Overstock.com from $98.00 to $91.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $34.29.

Overstock.com Stock Performance

OSTK stock opened at $17.71 on Friday. The company has a market capitalization of $800.49 million, a P/E ratio of -14.06 and a beta of 3.35. The company has a 50-day simple moving average of $19.26 and a 200 day simple moving average of $20.83. Overstock.com has a fifty-two week low of $17.05 and a fifty-two week high of $35.20. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Overstock.com (NASDAQ:OSTK – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.06. Overstock.com had a negative net margin of 3.14% and a positive return on equity of 1.20%. The firm had revenue of $381.10 million for the quarter, compared to analysts’ expectations of $357.55 million. During the same period in the previous year, the business earned $0.21 earnings per share. Overstock.com’s revenue for the quarter was down 28.9% compared to the same quarter last year. Sell-side analysts predict that Overstock.com will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Overstock.com

In other Overstock.com news, insider Eric Glen Nickle sold 2,000 shares of Overstock.com stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $17.19, for a total transaction of $34,380.00. Following the transaction, the insider now owns 15,434 shares of the company’s stock, valued at approximately $265,310.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Overstock.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Arete Wealth Advisors LLC bought a new stake in shares of Overstock.com in the 1st quarter valued at approximately $232,000. JPMorgan Chase & Co. grew its stake in shares of Overstock.com by 14.2% in the 1st quarter. JPMorgan Chase & Co. now owns 185,591 shares of the company’s stock valued at $3,763,000 after buying an additional 23,051 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Overstock.com by 103.7% in the 1st quarter. Harvest Portfolios Group Inc. now owns 41,046 shares of the company’s stock valued at $832,000 after buying an additional 20,893 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Overstock.com by 20.3% in the 1st quarter. Rockefeller Capital Management L.P. now owns 59,300 shares of the company’s stock valued at $1,202,000 after buying an additional 10,000 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Overstock.com by 17.5% in the 1st quarter. Squarepoint Ops LLC now owns 46,505 shares of the company’s stock valued at $943,000 after buying an additional 6,925 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Overstock.com Company Profile

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Overstock.com, Inc operates an online shopping site. It also sells these products through www.overstock.com, www.o.com, and www.o.biz. It operates through the following business segments: Retail, tZERO, and MVI. The Retail Segment engages in e-commerce sales through its website. The tZERO Segment focuses on securities transaction through its broker-dealers.