Offerpad Solutions (NYSE:OPAD) Price Target Cut to $0.85 by Analysts at Keefe, Bruyette & Woods

Offerpad Solutions (NYSE:OPAD) had its target price trimmed by Keefe, Bruyette & Woods from $1.00 to $0.85 in a research report released on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.62.

Offerpad Solutions Trading Down 3.8%

Shares of OPAD stock traded down $0.03 during trading hours on Thursday, hitting $0.68. The company had a trading volume of 332,820 shares, compared to its average volume of 2,839,155. The company’s fifty day moving average is $0.75 and its 200 day moving average is $1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.66 and a quick ratio of 0.43. Offerpad Solutions has a fifty-two week low of $0.57 and a fifty-two week high of $6.35. The stock has a market capitalization of $32.24 million, a PE ratio of -0.56 and a beta of 2.45.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The firm had revenue of $80.08 million for the quarter, compared to analyst estimates of $86.25 million. Research analysts expect that Offerpad Solutions will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

A number of hedge funds have recently added to or reduced their stakes in OPAD. Engineers Gate Manager LP acquired a new stake in Offerpad Solutions during the 4th quarter worth approximately $27,000. Goldman Sachs Group Inc. acquired a new stake in Offerpad Solutions during the 4th quarter worth approximately $32,000. Barclays PLC lifted its holdings 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 buying an additional 21,868 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after purchasing an additional 9,979 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Offerpad Solutions in the 2nd quarter valued at approximately $44,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.