Offerpad Solutions Inc. (NYSE:OPAD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have received an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $2.2875.

Several brokerages have recently commented on OPAD. Alliance Global Partners assumed coverage on Offerpad Solutions in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.50 target price for the company. Wall Street Zen upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Industrial Alliance Securities set a $3.50 target price on shares of Offerpad Solutions in a research note on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a research note on Friday, October 31st.

Offerpad Solutions Stock Up 1.1%

Shares of Offerpad Solutions stock opened at $1.36 on Monday. Offerpad Solutions has a 12-month low of $0.91 and a 12-month high of $6.35. The stock’s fifty day moving average is $1.67 and its 200-day moving average is $2.41. The firm has a market capitalization of $49.95 million, a PE ratio of -0.70 and a beta of 2.35. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. The firm had revenue of $132.68 million during the quarter, compared to analysts’ expectations of $173.01 million. Equities analysts anticipate that Offerpad Solutions will post -2.16 earnings per share for the current year.

Institutional Investors Weigh In On Offerpad Solutions

Institutional investors have recently made changes to their positions in the company. Investure LLC acquired a new position in Offerpad Solutions in the third quarter worth approximately $2,175,000. Vanguard Group Inc. grew its position 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 acquiring an additional 87,144 shares in the last quarter. Monograph Wealth Advisors LLC acquired a new position in shares of Offerpad Solutions during the 3rd quarter worth $248,000. Jane Street Group LLC bought a new position in shares of Offerpad Solutions during the 2nd quarter valued at $44,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Offerpad Solutions in the 3rd quarter valued at $79,000. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.