Keefe, Bruyette & Woods Lowers Offerpad Solutions (NYSE:OPAD) Price Target to $4.50

Offerpad Solutions (NYSE:OPAD) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $5.50 to $4.50 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 4.19% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Offerpad Solutions in a research note on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.83.

Offerpad Solutions Stock Up 18.3%

NYSE OPAD traded up $0.67 on Tuesday, reaching $4.32. 30,626 shares of the stock traded hands, compared to its average volume of 198,018. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. The company has a fifty day moving average price of $5.30 and a 200-day moving average price of $7.24. The company has a market cap of $20.43 million, a price-to-earnings ratio of -0.35 and a beta of 2.48. Offerpad Solutions has a 12 month low of $3.49 and a 12 month high of $63.50.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results 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 return on equity of 112.51% and a negative net margin of 8.51%.The firm had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $85.20 million. As a group, research analysts forecast that Offerpad Solutions will post -5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian Bair acquired 12,292 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $7.90 per share, with a total value of $97,106.80. Following the completion of the transaction, the chief executive officer directly owned 30,745 shares in the company, valued at $242,885.50. This trade represents a 66.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 16.70% of the stock is currently owned by insiders.

Institutional Trading of Offerpad Solutions

Hedge funds have recently modified their holdings of the company. PEAK6 LLC bought a new stake in shares of Offerpad Solutions in the 4th quarter valued at about $60,000. XTX Topco Ltd bought a new position in shares of Offerpad Solutions during the 4th quarter worth approximately $63,000. Quadrature Capital Ltd purchased a new stake in Offerpad Solutions during the fourth quarter valued at approximately $306,000. Engineers Gate Manager LP purchased a new stake in Offerpad Solutions during the fourth quarter valued at approximately $27,000. Finally, Barclays PLC boosted its stake in Offerpad Solutions by 190.5% in the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after acquiring an additional 21,868 shares in the last quarter. 39.44% of the stock is owned by hedge funds and other institutional investors.

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.