Offerpad Solutions (NYSE:OPAD) Shares Down 0.7% – Should You Sell?

Offerpad Solutions Inc. (NYSE:OPAD) traded down 0.7% on Tuesday . The company traded as low as $4.25 and last traded at $4.2610. Approximately 93,761 shares changed hands during mid-day trading, an increase of 68% from the average daily volume of 55,727 shares. The stock had previously closed at $4.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Offerpad Solutions in a research report on Friday, June 12th. Keefe, Bruyette & Woods lowered their price target on Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Offerpad Solutions in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered Offerpad Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Offerpad Solutions currently has a consensus rating of “Hold” and a consensus price target of $24.83.

Offerpad Solutions Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.46 and a current ratio of 1.44. The firm has a market cap of $20.58 million, a P/E ratio of -0.42 and a beta of 2.48. The business’s 50-day simple moving average is $4.67 and its 200 day simple moving average is $6.39.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Monday, August 3rd. The company reported ($1.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.87) by ($0.10). The company had revenue of $77.65 million for the quarter, compared to analysts’ expectations of $85.20 million. Offerpad Solutions had a negative net margin of 9.85% and a negative return on equity of 99.08%. As a group, equities analysts predict that Offerpad Solutions Inc. will post -7.49 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brian Bair acquired 12,292 shares of Offerpad Solutions stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of $7.90 per share, for a total transaction of $97,106.80. Following the completion of the transaction, the chief executive officer owned 30,745 shares in the company, valued at $242,885.50. The trade was a 66.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 16.70% of the company’s stock.

Institutional Investors Weigh In On Offerpad Solutions

Large investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in shares of Offerpad Solutions in the fourth quarter worth approximately $306,000. PEAK6 LLC purchased a new stake in Offerpad Solutions during the fourth quarter valued at approximately $60,000. Marshall Wace LLP purchased a new stake in Offerpad Solutions during the fourth quarter valued at approximately $768,000. Dimensional Fund Advisors LP bought a new position in Offerpad Solutions in the fourth quarter worth approximately $61,000. Finally, Geode Capital Management LLC raised its position in Offerpad Solutions by 37.9% in the fourth quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock worth $231,000 after acquiring an additional 52,312 shares during the period. 39.44% of the stock is currently owned by institutional investors.

About Offerpad Solutions

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.