Overstock.com (NASDAQ:OSTK) Cut to “Sell” at BidaskClub

Overstock.com (NASDAQ:OSTK) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, March 16th.

Separately, DA Davidson lifted their target price on Overstock.com from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.50.

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OSTK traded up $0.33 on Friday, hitting $35.85. The company had a trading volume of 2,433,280 shares, compared to its average volume of 3,181,554. The firm has a market cap of $1,047.42, a P/E ratio of -19.81 and a beta of 1.87. Overstock.com has a 1 year low of $13.75 and a 1 year high of $89.80. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

In other Overstock.com news, insider Jonathan E. Johnson III sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $66.10, for a total value of $264,400.00. Following the completion of the sale, the insider now owns 30,092 shares in the company, valued at $1,989,081.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 28.90% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Edge Wealth Management LLC acquired a new position in Overstock.com during the fourth quarter worth $130,000. Pier 88 Investment Partners LLC acquired a new stake in Overstock.com in the fourth quarter valued at $147,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Overstock.com by 113.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,990 shares of the company’s stock valued at $191,000 after purchasing an additional 1,590 shares during the last quarter. LPL Financial LLC acquired a new stake in Overstock.com in the fourth quarter valued at $208,000. Finally, SG Americas Securities LLC acquired a new stake in Overstock.com in the third quarter valued at $109,000. 60.01% of the stock is currently owned by hedge funds and other institutional investors.

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Overstock.com Company Profile

Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.

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