Short Interest in Offerpad Solutions Inc. (NYSE:OPAD) Declines By 23.1%

Offerpad Solutions Inc. (NYSE:OPAD) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 4,139,822 shares, a drop of 23.1% from the January 15th total of 5,386,153 shares. Approximately 18.9% of the shares of the company are sold short. Based on an average daily volume of 2,647,732 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 2,647,732 shares, the days-to-cover ratio is currently 1.6 days. Approximately 18.9% of the shares of the company are sold short.

Institutional Investors Weigh In On Offerpad Solutions

A number of large investors have recently modified their holdings of OPAD. PEAK6 LLC acquired a new stake in shares of Offerpad Solutions in the fourth quarter valued at about $60,000. Barclays PLC grew its stake in Offerpad Solutions by 190.5% during the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after acquiring an additional 21,868 shares in the last quarter. Marshall Wace LLP acquired a new stake in Offerpad Solutions in the 4th quarter valued at about $768,000. Dimensional Fund Advisors LP purchased a new position in Offerpad Solutions in the 4th quarter worth approximately $61,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Offerpad Solutions during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on OPAD shares. iA Financial set a $3.50 price target on shares of Offerpad Solutions in a research report on Thursday, December 11th. Alliance Global Partners started coverage on shares of Offerpad Solutions in a research note on Thursday, December 11th. They set a “buy” rating and a $3.50 target price on the stock. Wall Street Zen upgraded Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.29.

Offerpad Solutions Price Performance

NYSE:OPAD traded up $0.04 during trading hours on Monday, hitting $0.82. 1,053,013 shares of the stock were exchanged, compared to its average volume of 1,951,194. The firm’s fifty day moving average price is $1.31 and its 200 day moving average price is $2.31. Offerpad Solutions has a 52-week low of $0.77 and a 52-week high of $6.35. The company has a market cap of $30.08 million, a P/E ratio of -0.42 and a beta of 2.36. The company has a current ratio of 1.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.37.

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.