ODP (NASDAQ:ODP) Reaches New 1-Year Low – Should You Sell?

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. The stock had previously closed at $20.56.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com cut shares of ODP from a “buy” rating to a “hold” rating in a report on Friday, January 31st. UBS Group lowered their price objective on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

ODP Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The company has a 50 day simple moving average of $23.84 and a two-hundred day simple moving average of $27.56.

Hedge Funds Weigh In On ODP

Hedge funds have recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 3,071 shares during the last quarter. SG Americas Securities LLC bought a new stake in ODP in the third quarter worth $104,000. KLP Kapitalforvaltning AS acquired a new position in ODP during the fourth quarter worth $150,000. Finally, Inceptionr LLC acquired a new stake in shares of ODP in the fourth quarter worth about $223,000. Institutional investors and hedge funds 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.