ODP (NASDAQ:ODP) Sets New 52-Week Low – What’s Next?

The ODP Co. (NASDAQ:ODP) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $20.49 and last traded at $20.79, with a volume of 12422 shares trading hands. The stock had previously closed at $20.56.

Wall Street Analyst Weigh In

Several research firms recently commented on ODP. StockNews.com downgraded shares of ODP from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group cut their price target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

ODP Stock Performance

The company’s fifty day simple moving average is $24.02 and its 200 day simple moving average is $27.87. The stock has a market capitalization of $617.04 million, a P/E ratio of -22.50, a P/E/G ratio of 0.35 and a beta of 1.38. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

Institutional Trading of ODP

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV lifted its holdings in shares of ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 868 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ODP during the third quarter valued at about $104,000. GAMMA Investing LLC grew its stake in shares of ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after buying an additional 3,071 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of ODP by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock worth $268,000 after buying an additional 1,049 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of ODP in the 2nd quarter valued at about $357,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

ODP Company Profile

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates through four divisions: ODP Business Solutions, Office Depot, Veyer, and Varis.