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

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $2.2875.

A number of equities research analysts have recently weighed in on OPAD shares. Wall Street Zen upgraded Offerpad Solutions from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. iA Financial set a $3.50 target price on shares of Offerpad Solutions in a report on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Finally, Alliance Global Partners initiated coverage on shares of Offerpad Solutions in a research report on Thursday, December 11th. They set a “buy” rating and a $3.50 price objective for the company.

Offerpad Solutions Stock Down 7.4%

NYSE:OPAD opened at $0.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.28 and a current ratio of 1.32. The company has a market capitalization of $28.95 million, a price-to-earnings ratio of -0.40 and a beta of 2.36. Offerpad Solutions has a one year low of $0.77 and a one year high of $6.35. The stock has a 50-day simple moving average of $1.35 and a 200 day simple moving average of $2.30.

Institutional Trading of Offerpad Solutions

Several hedge funds have recently made changes to their positions in the stock. Investure LLC bought a new position in Offerpad Solutions during the 3rd quarter worth $2,175,000. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 87,144 shares during the period. Monograph Wealth Advisors LLC acquired a new position in shares of Offerpad Solutions during the third quarter valued at $248,000. Geode Capital Management LLC grew its position in shares of Offerpad Solutions by 37.9% during the fourth quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock worth $231,000 after acquiring an additional 52,312 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Offerpad Solutions in the 4th quarter worth about $61,000. 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.