Brokerages Set Offerpad Solutions Inc. (NYSE:OPAD) PT at $2.29

Offerpad Solutions Inc. (NYSE:OPAD) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $2.2875.

A number of research analysts have commented on OPAD shares. Wall Street Zen upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. iA Financial set a $3.50 price objective on Offerpad Solutions in a research note on Thursday, December 11th. Finally, Alliance Global Partners started coverage on Offerpad Solutions in a report on Thursday, December 11th. They issued a “buy” rating and a $3.50 target price on the stock.

Institutional Trading of Offerpad Solutions

Several hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Offerpad Solutions by 69.6% in the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after acquiring an additional 9,979 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Offerpad Solutions in the 3rd quarter valued at approximately $79,000. Jane Street Group LLC purchased a new stake in Offerpad Solutions in the 2nd quarter valued at approximately $44,000. Monograph Wealth Advisors LLC acquired a new position in Offerpad Solutions during the 3rd quarter worth approximately $248,000. Finally, Vanguard Group Inc. raised its stake in shares of Offerpad Solutions by 12.4% during the 3rd quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after buying an additional 87,144 shares in the last quarter. Institutional investors and hedge funds own 39.44% of the company’s stock.

Offerpad Solutions Stock Performance

Shares of Offerpad Solutions stock opened at $0.92 on Friday. The firm’s fifty day simple moving average is $1.43 and its 200-day simple moving average is $2.34. The stock has a market capitalization of $33.90 million, a price-to-earnings ratio of -0.47 and a beta of 2.36. Offerpad Solutions has a 12 month low of $0.86 and a 12 month high of $6.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.32 and a quick ratio of 0.28.

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.