Offerpad Solutions Inc. (NYSE:OPAD) Short Interest Update

Offerpad Solutions Inc. (NYSE:OPAD) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 4,955,697 shares, a growth of 19.7% from the January 29th total of 4,139,822 shares. Based on an average daily volume of 1,648,623 shares, the days-to-cover ratio is currently 3.0 days. Approximately 22.6% of the shares of the stock are sold short. Approximately 22.6% of the shares of the stock are sold short. Based on an average daily volume of 1,648,623 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Ratings Changes

OPAD has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods lowered their price objective on Offerpad Solutions from $1.75 to $1.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 25th. Alliance Global Partners began coverage on Offerpad Solutions in a research note on Thursday, December 11th. They issued a “buy” rating and a $3.50 target price for the company. Wall Street Zen upgraded Offerpad Solutions from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, iA Financial set a $3.50 price objective on shares of Offerpad Solutions in a report on Thursday, December 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.25.

Offerpad Solutions Stock Performance

Shares of Offerpad Solutions stock opened at $0.75 on Friday. Offerpad Solutions has a 52 week low of $0.71 and a 52 week high of $6.35. The business’s fifty day simple moving average is $1.10 and its 200-day simple moving average is $2.25. The firm has a market cap of $27.53 million, a PE ratio of -0.48 and a beta of 2.39. The company has a quick ratio of 0.43, a current ratio of 1.48 and a debt-to-equity ratio of 0.38.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. Offerpad Solutions had a negative return on equity of 135.22% and a negative net margin of 8.17%.The firm had revenue of $114.12 million during the quarter, compared to the consensus estimate of $159.00 million. Equities analysts forecast that Offerpad Solutions will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Offerpad Solutions

Several large investors have recently made changes to their positions in OPAD. XTX Topco Ltd acquired a new stake in Offerpad Solutions in the 4th quarter valued at approximately $63,000. Quadrature Capital Ltd purchased a new position in shares of Offerpad Solutions during the fourth quarter worth $306,000. Engineers Gate Manager LP acquired a new stake in shares of Offerpad Solutions in the fourth quarter valued at $27,000. PEAK6 LLC acquired a new stake in shares of Offerpad Solutions in the fourth quarter valued at $60,000. Finally, Barclays PLC raised its holdings in shares of Offerpad Solutions by 190.5% in the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock valued at $40,000 after buying an additional 21,868 shares during the period. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.