Offerpad Solutions (NYSE:OPAD) Trading Up 6.1% – Time to Buy?

Offerpad Solutions Inc. (NYSE:OPAD)’s share price rose 6.1% on Wednesday . The stock traded as high as $1.84 and last traded at $1.82. Approximately 20,476 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 57,156 shares. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

OPAD has been the subject of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $4.50 price target on shares of Offerpad Solutions in a research report on Monday, December 16th. Keefe, Bruyette & Woods dropped their target price on shares of Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th.

Offerpad Solutions Stock Up 0.5 %

The firm has a market cap of $50.65 million, a price-to-earnings ratio of -0.84 and a beta of 2.23. The business has a 50 day moving average of $2.21 and a 200 day moving average of $3.13.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.15). The firm had revenue of $174.27 million for the quarter, compared to analyst estimates of $174.24 million. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. Research analysts predict that Offerpad Solutions Inc. will post -2.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in Offerpad Solutions in the fourth quarter valued at $34,000. JPMorgan Chase & Co. grew its holdings in Offerpad Solutions by 140.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after buying an additional 6,284 shares during the period. Barclays PLC increased its stake in shares of Offerpad Solutions by 133.3% during the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after acquiring an additional 11,891 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Offerpad Solutions during the 4th quarter valued at about $87,000. Finally, Deutsche Bank AG purchased a new position in shares of Offerpad Solutions during the 4th quarter worth about $111,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Company Profile

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.