Offerpad Solutions (NYSE:OPAD) Stock Price Up 6.1% – Still a Buy?

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Keefe, Bruyette & Woods decreased their price objective on 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, JMP Securities reissued a “market outperform” rating and issued a $4.50 price objective on shares of Offerpad Solutions in a report on Monday, December 16th.

Offerpad Solutions Stock Up 6.1 %

The company has a fifty day moving average of $2.22 and a two-hundred day moving average of $3.14. The stock has a market capitalization of $49.69 million, a price-to-earnings ratio of -0.82 and a beta of 2.23.

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

Institutional Investors Weigh In On Offerpad Solutions

Several hedge funds have recently modified their holdings of the stock. Watts Gwilliam & Co. LLC acquired a new stake in Offerpad Solutions in the fourth quarter valued at $1,885,000. Barclays PLC lifted its holdings in Offerpad Solutions by 133.3% in the third 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 period. Wilmington Savings Fund Society FSB acquired a new stake in Offerpad Solutions in the third quarter valued at $2,417,000. SG Americas Securities LLC acquired a new stake in Offerpad Solutions in the fourth quarter valued at $87,000. Finally, JPMorgan Chase & Co. lifted its holdings in Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock valued at $44,000 after acquiring an additional 6,284 shares during the period. 39.44% of the stock is owned by institutional investors and hedge funds.

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.