Offerpad Solutions (NYSE:OPAD) Trading Down 1.7% – Here’s Why

Offerpad Solutions Inc. (NYSE:OPAD)’s stock price traded down 1.7% during trading on Tuesday . The stock traded as low as $3.57 and last traded at $3.57. 47,942 shares traded hands during trading, a decline of 72% from the average session volume of 173,933 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OPAD. Keefe, Bruyette & Woods dropped their price target on shares of Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating on the stock in a research report on Tuesday, August 4th. Alliance Global Partners reissued a “buy” rating on shares of Offerpad Solutions in a report on Friday, June 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a report on Monday, August 24th. Finally, Wall Street Zen downgraded shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $24.83.

Offerpad Solutions Stock Down 1.7%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.44 and a quick ratio of 0.46. The stock has a 50 day moving average price of $4.41 and a 200-day moving average price of $5.94. The stock has a market capitalization of $17.25 million, a P/E ratio of -0.35 and a beta of 2.52.

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

Hedge Funds Weigh In On Offerpad Solutions

An institutional investor recently bought a new stake in Offerpad Solutions stock. PEAK6 LLC acquired a new position in Offerpad Solutions Inc. (NYSE:OPAD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 49,998 shares of the company’s stock, valued at approximately $60,000. PEAK6 LLC owned approximately 0.11% of Offerpad Solutions at the end of the most recent quarter. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.