Short Interest in Offerpad Solutions Inc. (NYSE:OPAD) Grows By 21.4%

Offerpad Solutions Inc. (NYSE:OPAD) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 905,700 shares, an increase of 21.4% from the June 30th total of 745,800 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily volume of 80,300 shares, the short-interest ratio is presently 11.3 days.

Insider Activity

In related news, Director Roberto Marco Sella purchased 10,000 shares of Offerpad Solutions stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the purchase, the director now owns 3,065,884 shares in the company, valued at approximately $14,930,855.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Roberto Marco Sella purchased 10,000 shares of Offerpad Solutions stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $4.87 per share, for a total transaction of $48,700.00. Following the purchase, the director now owns 3,065,884 shares in the company, valued at approximately $14,930,855.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Bair purchased 40,000 shares of Offerpad Solutions stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $5.48 per share, for a total transaction of $219,200.00. Following the completion of the purchase, the chief executive officer now owns 852,867 shares in the company, valued at approximately $4,673,711.16. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 97,717 shares of company stock worth $500,996. Corporate insiders own 43.40% of the company’s stock.

Institutional Trading of Offerpad Solutions

A hedge fund recently bought a new stake in Offerpad Solutions stock. Bank of New York Mellon Corp acquired a new stake in Offerpad Solutions Inc. (NYSE:OPAD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,034 shares of the company’s stock, valued at approximately $111,000. Bank of New York Mellon Corp owned approximately 0.09% of Offerpad Solutions as of its most recent SEC filing. Institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Stock Up 0.4 %

Offerpad Solutions stock traded up $0.02 during mid-day trading on Friday, hitting $4.62. 23,097 shares of the stock were exchanged, compared to its average volume of 115,327. Offerpad Solutions has a 12 month low of $3.83 and a 12 month high of $13.36. The firm’s fifty day simple moving average is $4.74 and its two-hundred day simple moving average is $6.97. The stock has a market capitalization of $126.03 million, a price-to-earnings ratio of -1.67 and a beta of 1.83.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.28). Offerpad Solutions had a negative return on equity of 69.44% and a negative net margin of 7.60%. The firm had revenue of $285.36 million for the quarter, compared to the consensus estimate of $272.07 million. As a group, analysts forecast that Offerpad Solutions will post -1.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OPAD shares. Keefe, Bruyette & Woods dropped their price objective on shares of Offerpad Solutions from $6.25 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group dropped their price objective on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Finally, JMP Securities dropped their price objective on shares of Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating for the company in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Offerpad Solutions currently has an average rating of “Hold” and a consensus price target of $9.60.

About Offerpad Solutions

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.