Offerpad Solutions (NYSE:OPAD) Shares Down 0.7% – Time to Sell?

Offerpad Solutions Inc. (NYSE:OPAD) dropped 0.7% during mid-day trading on Tuesday . The stock traded as low as $4.25 and last traded at $4.2610. Approximately 93,761 shares traded hands during trading, an increase of 68% from the average session volume of 55,727 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Alliance Global Partners reiterated a “buy” rating on shares of Offerpad Solutions in a report on Friday, June 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Offerpad Solutions in a report on Monday. Wall Street Zen lowered Offerpad Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Keefe, Bruyette & Woods decreased their price target on Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating on the stock in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.83.

Offerpad Solutions Stock Up 0.9%

The company has a market capitalization of $21.85 million, a P/E ratio of -0.44 and a beta of 2.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.44 and a quick ratio of 0.46. The company has a 50 day moving average of $4.66 and a 200-day moving average of $6.36.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data 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 99.08% and a negative net margin of 9.85%.The business had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $85.20 million. As a group, equities analysts anticipate that Offerpad Solutions Inc. will post -7.49 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brian Bair acquired 12,500 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average cost of $8.20 per share, for a total transaction of $102,500.00. Following the acquisition, the chief executive officer owned 18,453 shares of the company’s stock, valued at $151,314.60. This trade represents a 209.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 16.70% of the company’s stock.

Hedge Funds Weigh In On Offerpad Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of Offerpad Solutions during the fourth quarter valued at approximately $768,000. Quadrature Capital Ltd bought a new position in Offerpad Solutions in the fourth quarter worth $306,000. Vanguard Group Inc. lifted its position in Offerpad Solutions by 12.4% during the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock valued at $3,297,000 after buying an additional 87,144 shares during the period. Monograph Wealth Advisors LLC purchased a new position in Offerpad Solutions during the third quarter valued at $248,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Offerpad Solutions by 37.9% during the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after buying an additional 52,312 shares in the last quarter. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.