ODP (NASDAQ:ODP) Trading Down 4.4% - What's Next?

The ODP Corporation (NASDAQ:ODP - Get Free Report) shares were down 4.4% on Wednesday . The company traded as low as $18.58 and last traded at $18.51. Approximately 96,108 shares traded hands during trading, a decline of 84% from the average daily volume of 595,961 shares. The stock had previously closed at $19.36.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd.

ODP Stock Performance

The firm's 50-day moving average price is $17.12 and its 200-day moving average price is $17.81. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market cap of $557.68 million, a P/E ratio of -13.34, a PEG ratio of 0.44 and a beta of 1.34.

ODP (NASDAQ:ODP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.41. ODP had a negative net margin of 0.69% and a positive return on equity of 11.50%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period last year, the company posted $1.05 EPS. The business's revenue was down 9.2% on a year-over-year basis. Sell-side analysts expect that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

A number of institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in ODP by 265,600.0% in the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after purchasing an additional 2,656 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of ODP in the 1st quarter worth $41,000. Headlands Technologies LLC bought a new position in shares of ODP during the 1st quarter worth $47,000. Parallel Advisors LLC increased its stake in shares of ODP by 3,033.3% during the second quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,730 shares during the period. Finally, State of Wyoming increased its stake in shares of ODP by 232.5% during the first quarter. State of Wyoming now owns 5,859 shares of the specialty retailer's stock valued at $84,000 after buying an additional 4,097 shares during the period. 99.56% of the stock is owned by institutional investors.

About ODP

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.