Offerpad Solutions (NYSE:OPAD) Trading 7.8% Higher – What’s Next?

Offerpad Solutions Inc. (NYSE:OPAD)’s stock price was up 7.8% during mid-day trading on Monday . The company traded as high as $0.84 and last traded at $0.8260. Approximately 1,909,292 shares were traded during trading, an increase of 252% from the average daily volume of 542,244 shares. The stock had previously closed at $0.7660.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on OPAD shares. Keefe, Bruyette & Woods reduced their price target on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.62.

Offerpad Solutions Stock Up 7.8%

The company has a market capitalization of $39.09 million, a P/E ratio of -0.68 and a beta of 2.42. The company has a current ratio of 1.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $0.72 and a 200 day moving average price of $1.09.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The company had revenue of $80.08 million during the quarter, compared to analysts’ expectations of $86.25 million. On average, research analysts anticipate that Offerpad Solutions Inc. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new position in shares of Offerpad Solutions in the 3rd quarter valued at $79,000. Engineers Gate Manager LP bought a new position in Offerpad Solutions during the 4th quarter worth $27,000. AQR Capital Management LLC raised its position in Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after purchasing an additional 9,979 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Offerpad Solutions during the 4th quarter worth $32,000. Finally, Barclays PLC raised its position in Offerpad Solutions by 190.5% during the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after purchasing an additional 21,868 shares during the last quarter. 39.44% of the stock is currently owned by institutional investors.

Offerpad Solutions Company Profile

Offerpad Solutions, Inc, listed on the NYSE under the ticker OPAD, is a technology-driven real estate platform specializing in the direct purchase, renovation and resale of single-family homes. Since its founding in 2015 and headquartered in Chandler, Arizona, the company leverages proprietary data analytics and algorithms to deliver fast, all-cash offers and flexible closing timelines to homeowners in select markets across the United States.

The company’s core services include its Instant Offer program for home acquisitions, in-house renovation and repair services to prepare properties for resale, and a suite of ancillary offerings such as title and escrow, home trade-in solutions and mortgage origination through strategic partnerships.