Overstock.com (OSTK) Trading Up 9.9%

Overstock.com Inc (NASDAQ:OSTK)’s share price was up 9.9% during mid-day trading on Wednesday . The stock traded as high as $36.40 and last traded at $35.65. Approximately 2,983,500 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 4,101,795 shares. The stock had previously closed at $32.45.

Several equities analysts have recently issued reports on OSTK shares. DA Davidson lifted their price objective on shares of Overstock.com from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, January 8th. BidaskClub raised shares of Overstock.com from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research cut shares of Overstock.com from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 21st. Finally, TheStreet cut shares of Overstock.com from a “c-” rating to a “d” rating in a report on Tuesday, March 20th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Overstock.com presently has a consensus rating of “Hold” and a consensus target price of $62.50.

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The firm has a market capitalization of $1,051.10, a P/E ratio of -19.63 and a beta of 1.87. 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 firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $66.10, for a total value of $264,400.00. Following the completion of the transaction, the insider now directly owns 30,092 shares in the company, valued at $1,989,081.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Overstock.com by 113.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,990 shares of the company’s stock worth $191,000 after buying an additional 1,590 shares during the period. Edge Wealth Management LLC acquired a new position in shares of Overstock.com in the fourth quarter worth about $130,000. Pier 88 Investment Partners LLC acquired a new position in shares of Overstock.com in the fourth quarter worth about $147,000. LPL Financial LLC acquired a new position in shares of Overstock.com in the fourth quarter worth about $208,000. Finally, Bank of Montreal Can boosted its holdings in shares of Overstock.com by 347.9% in the fourth quarter. Bank of Montreal Can now owns 4,479 shares of the company’s stock worth $286,000 after buying an additional 3,479 shares during the period. Institutional investors own 60.01% of the company’s stock.

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About Overstock.com

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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