KAR Stock Summary and Trading Ideas (Openlane | NYSE:KAR)

Openlane Inc offers a digital marketplace for used vehicles. The services comprise financing, repossessions, repairs, transportation, warranty, and inventory services. It operates used-vehicle auctions and offers complete online services for all parties involved. The company has two operating segments which include Marketplace and Finance, of which it generates the majority of the revenue from the Marketplace segment.

Openlane trades on the NYSE stock market under the symbol KAR.

As of April 24, 2024, KAR stock price declined to $17.50 with 731,693 million shares trading.

KAR has a beta of 1.10, meaning it tends to be more sensitive to market movements. KAR has a correlation of 0.32 to the broad based SPY ETF.

KAR has a market cap of $1.89 billion. This is considered a Small Cap stock.

Last quarter Openlane reported $391 million in Revenue and $.16 earnings per share. This fell short of revenue expectation by $-2 million and exceeded earnings estimates by $.03.

In the last 3 years, KAR stock traded as high as $22.10 and as low as $11.15.

The top ETF exchange traded funds that KAR belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

KAR has outperformed the market in the last year with a price return of +27.5% while the SPY ETF gained +24.1%. KAR has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +23.2% and +1.4%, respectively, while the SPY returned +4.5% and -1.7%, respectively.

KAR support price is $17.28 and resistance is $17.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that KAR stock will trade within this expected range on the day.