Keefe, Bruyette & Woods Cuts Offerpad Solutions (NYSE:OPAD) Price Target to $4.50

Offerpad Solutions (NYSE:OPAD) had its price objective trimmed by Keefe, Bruyette & Woods from $5.50 to $4.50 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

Several other equities research analysts have also recently weighed in on OPAD. Wall Street Zen cut Offerpad Solutions from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Finally, Alliance Global Partners restated a “buy” rating on shares of Offerpad Solutions in a report on Friday, June 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Offerpad Solutions presently has an average rating of “Hold” and a consensus price target of $24.83.

Offerpad Solutions Stock Performance

Offerpad Solutions stock opened at $4.51 on Tuesday. The company has a 50 day moving average price of $5.13 and a 200-day moving average price of $7.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.69 and a current ratio of 1.44. Offerpad Solutions has a fifty-two week low of $3.49 and a fifty-two week high of $63.50. The company has a market capitalization of $21.36 million, a PE ratio of -0.44 and a beta of 2.48.

Offerpad Solutions (NYSE:OPAD) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($1.97) earnings per share (EPS) 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 firm had revenue of $77.65 million during the quarter, compared to the consensus estimate of $85.20 million. As a group, equities analysts forecast that Offerpad Solutions will post -5.8 earnings per share for the current year.

Insider Transactions at Offerpad Solutions

In other Offerpad Solutions news, CEO Brian Bair acquired 12,500 shares of Offerpad Solutions stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $8.20 per share, with a total value of $102,500.00. Following the completion of the purchase, the chief executive officer directly owned 18,453 shares of the company’s stock, valued at approximately $151,314.60. This represents a 209.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OPAD. Vanguard Group Inc. raised its holdings in Offerpad Solutions by 12.4% in the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after purchasing an additional 87,144 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Offerpad Solutions during the 4th quarter worth approximately $768,000. Quadrature Capital Ltd bought a new position in shares of Offerpad Solutions during the 4th quarter worth approximately $306,000. Geode Capital Management LLC lifted its position in Offerpad Solutions by 37.9% during the fourth quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after acquiring an additional 52,312 shares during the last quarter. Finally, Monograph Wealth Advisors LLC acquired a new stake in Offerpad Solutions in the third quarter valued at approximately $248,000. 39.44% of the stock is owned by institutional investors.

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.