Offerpad Solutions (NYSE:OPAD) Shares Scheduled to Reverse Split on Tuesday, June 9th

Shares of Offerpad Solutions Inc. (NYSE:OPAD) are scheduled to reverse split on Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 8th.

Offerpad Solutions Stock Down 16.1%

OPAD traded down $0.12 on Friday, hitting $0.62. 1,566,630 shares of the company were exchanged, compared to its average volume of 2,467,069. Offerpad Solutions has a twelve month low of $0.57 and a twelve month high of $6.35. The company has a market cap of $29.38 million, a price-to-earnings ratio of -0.51 and a beta of 2.42. The company has a current ratio of 1.66, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $0.73 and a two-hundred day moving average price of $1.07.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The firm had revenue of $80.08 million during the quarter, compared to analysts’ expectations of $86.25 million. On average, equities analysts predict that Offerpad Solutions will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OPAD. Keefe, Bruyette & Woods decreased their price target on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating for the company in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Offerpad Solutions in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Offerpad Solutions has a consensus rating of “Hold” and an average price target of $2.62.

Insider Buying and Selling at Offerpad Solutions

In other news, CEO Brian Bair bought 122,920 shares of Offerpad Solutions stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $0.79 per share, with a total value of $97,106.80. Following the acquisition, the chief executive officer owned 307,454 shares of the company’s stock, valued at approximately $242,888.66. This trade represents a 66.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 40.60% of the company’s stock.

Institutional Trading of Offerpad Solutions

Institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new stake in shares of Offerpad Solutions in the 3rd quarter valued at about $79,000. Engineers Gate Manager LP purchased a new stake in shares of Offerpad Solutions in the 4th quarter valued at about $27,000. AQR Capital Management LLC lifted its holdings in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after purchasing an additional 9,979 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Offerpad Solutions in the 4th quarter valued at about $32,000. Finally, Barclays PLC lifted its holdings in shares of Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after purchasing an additional 21,868 shares during 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.