Offerpad Solutions (NYSE:OPAD) Shares Gap Up to $4.64

Shares of Offerpad Solutions Inc. (NYSE:OPADGet Rating) gapped up before the market opened on Friday . The stock had previously closed at 4.64, but opened at 4.82. Offerpad Solutions shares last traded at 4.74, with a volume of 1,451 shares.

A number of research firms have weighed in on OPAD. The Goldman Sachs Group began coverage on shares of Offerpad Solutions in a report on Wednesday, March 30th. They set a “neutral” rating and a $6.00 price objective on the stock. Zacks Investment Research raised shares of Offerpad Solutions from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a report on Saturday, May 21st. Finally, Keefe, Bruyette & Woods began coverage on shares of Offerpad Solutions in a report on Monday, February 14th. They set a “market perform” rating and a $15.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of 9.69.

The stock’s fifty day simple moving average is 5.07 and its two-hundred day simple moving average is 5.44.

Offerpad Solutions (NYSE:OPADGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported 0.16 earnings per share for the quarter, beating analysts’ consensus estimates of 0.03 by 0.13. The company had revenue of 1.37 billion during the quarter, compared to analyst estimates of 1.14 billion. On average, research analysts expect that Offerpad Solutions Inc. will post 0.25 earnings per share for the current year.

In other news, Director Ryan Ohara bought 10,000 shares of Offerpad Solutions stock in a transaction on Tuesday, March 8th. The stock was purchased at an average cost of 4.17 per share, with a total value of 41,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kenneth D. Degiorgio bought 25,000 shares of Offerpad Solutions stock in a transaction on Friday, March 11th. The shares were purchased at an average cost of 3.98 per share, with a total value of 99,500.00. The disclosure for this purchase can be found here.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPAD. Weiss Asset Management LP bought a new position in shares of Offerpad Solutions during the third quarter valued at $8,720,000. Ghisallo Capital Management LLC bought a new stake in Offerpad Solutions in the 3rd quarter valued at about $3,096,000. Penserra Capital Management LLC acquired a new position in shares of Offerpad Solutions in the 3rd quarter valued at approximately $97,000. Morgan Stanley acquired a new position in Offerpad Solutions during the 3rd quarter worth approximately $434,000. Finally, Islet Management LP acquired a new position in Offerpad Solutions during the 3rd quarter worth approximately $6,664,000. 51.71% of the stock is owned by hedge funds and other institutional investors.

About Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.

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