Office Depot (NASDAQ:ODP) has tumbled 5.71% during the past week and has dropped 3.79% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 4.58%. Office Depot (NASDAQ:ODP) has underperformed the index by 4.67% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Office Depot (NASDAQ:ODP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.29 and $3.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.36. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.30, notching a gain of 0.61% for the day. The total traded volume was 9,588,450 . The stock had closed at $3.28 on the previous day.
The company shares have dropped -63.70% from its 1 Year high price. On Jun 19, 2015, the shares registered one year high at $9.25 and the one year low was seen on May 17, 2016. The 50-Day Moving Average price is $4.12 and the 200 Day Moving Average price is recorded at $5.36.
On the companys insider trading activities, Travis Nigel, director of Office Depot Inc, executed a transaction worth $49,506 on May 25, 2016. A total of 14,267 shares were purchased at an average price of $3.47. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Jefferies downgrades the rating on Office Depot (NASDAQ:ODP). The brokerage firm has issued a Sell rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on May 11, 2016. Currently the company Insiders own 0.59% of Office Depot shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 8.03% . Institutional Investors own 88.83% of Office Depot shares. During last six month period, the net percent change held by insiders has seen a change of 8.03%.
Office Depot, Inc. is a supplier of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. The North American Retail Division sells an assortment of merchandise through its chain of office supply stores throughout the United States, including Puerto Rico and the U.S. Virgin Islands. The North American Business Solutions Division sells office supplies, technology products, cleaning and breakroom supplies, office furniture, certain services, and other solutions to customers. The International Division sells office products and services through direct mail catalogs, contract sales forces, Internet sites and retail stores. The Company also operates a network of distribution centers (DC) and crossdock facilities across the United States, Puerto Rico and Canada.