Offerpad Solutions (NYSE:OPAD) Trading 7.8% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of 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 reiterated a “sell (e+)” rating on shares of Offerpad Solutions in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.62.

Offerpad Solutions Trading Up 7.8%

The business has a 50-day simple moving average of $0.72 and a two-hundred day simple moving average of $1.09. The stock has a market cap of $39.09 million, a price-to-earnings ratio of -0.68 and a beta of 2.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.66 and a quick ratio of 0.69.

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

Hedge Funds Weigh In On Offerpad Solutions

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP bought a new position in shares of Offerpad Solutions during the fourth quarter worth approximately $27,000. Goldman Sachs Group Inc. bought a new position in shares of Offerpad Solutions during the fourth quarter worth approximately $32,000. Barclays PLC increased its stake in shares of Offerpad Solutions by 190.5% during the fourth 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 period. AQR Capital Management LLC increased its stake in shares of Offerpad Solutions by 69.6% during the first 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 period. Finally, Jane Street Group LLC bought a new position in shares of Offerpad Solutions during the second quarter worth approximately $44,000. Institutional investors own 39.44% of the company’s stock.

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.