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

Offerpad Solutions Inc. (NYSE:OPAD)’s stock price was down 0.7% during trading on Tuesday . The stock traded as low as $4.25 and last traded at $4.2610. 93,761 shares were traded 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.

Analysts Set New Price Targets

A number of analysts have commented on OPAD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. Wall Street Zen cut Offerpad Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Alliance Global Partners reiterated a “buy” rating on shares of Offerpad Solutions in a research note on Friday, June 12th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating for the company in a report on Tuesday, August 4th. One research 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.com, the company has an average rating of “Hold” and a consensus target price 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 company has a market capitalization of $20.58 million, a P/E ratio of -0.42 and a beta of 2.48. The business’s fifty day simple moving average is $4.67 and its 200-day simple moving average is $6.39.

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

Insider Activity

In other news, CEO Brian Bair bought 12,292 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $242,885.50. This represents a 66.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 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

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in Offerpad Solutions by 69.6% during the first 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 in the last quarter. Barclays PLC grew its stake in shares of Offerpad Solutions by 190.5% in 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. Engineers Gate Manager LP purchased a new position in shares of Offerpad Solutions in the 4th quarter worth $27,000. Goldman Sachs Group Inc. bought a new stake in shares of Offerpad Solutions in the 4th quarter worth about $32,000. Finally, Jane Street Group LLC bought a new stake in shares of Offerpad Solutions in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.