Short Interest in Offerpad Solutions Inc. (NYSE:OPAD) Grows By 51.5%

Offerpad Solutions Inc. (NYSE:OPAD) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 5,386,153 shares, an increase of 51.5% from the December 31st total of 3,556,153 shares. Currently, 24.6% of the shares of the company are sold short. Based on an average daily volume of 15,712,789 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 15,712,789 shares, the days-to-cover ratio is currently 0.3 days. Currently, 24.6% of the shares of the company are sold short.

Offerpad Solutions Stock Performance

OPAD stock traded up $0.01 during midday trading on Monday, hitting $1.03. 1,320,244 shares of the company traded hands, compared to its average volume of 8,802,954. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The business has a 50 day simple moving average of $1.53 and a 200-day simple moving average of $2.39. The stock has a market capitalization of $37.78 million, a price-to-earnings ratio of -0.53 and a beta of 2.36. Offerpad Solutions has a twelve month low of $0.91 and a twelve month high of $6.35.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results on Monday, November 3rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The firm had revenue of $132.68 million during the quarter, compared to analyst estimates of $173.01 million. Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. As a group, equities research analysts predict that Offerpad Solutions will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Offerpad Solutions

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in 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 during the period. Jane Street Group LLC bought a new position in Offerpad Solutions during the 2nd quarter worth about $44,000. Tudor Investment Corp ET AL bought a new position in Offerpad Solutions during the 3rd quarter worth about $79,000. Monograph Wealth Advisors LLC bought a new stake in shares of Offerpad Solutions in the third quarter valued at about $248,000. Finally, Investure LLC acquired a new position in shares of Offerpad Solutions during the third quarter worth about $2,175,000. Institutional investors and hedge funds own 39.44% of the company’s stock.

Analysts Set New Price Targets

OPAD has been the topic of several analyst reports. Alliance Global Partners assumed coverage on shares of Offerpad Solutions in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.50 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday. Wall Street Zen upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Industrial Alliance Securities set a $3.50 price objective on shares of Offerpad Solutions in a report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.29.

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.