Offerpad Solutions (NYSE:OPAD) Given New $4.50 Price Target at Keefe, Bruyette & Woods

Offerpad Solutions (NYSE:OPAD) had its price objective lowered by research analysts at Keefe, Bruyette & Woods from $5.50 to $4.50 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 4.19% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Offerpad Solutions in a report on Friday, June 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.83.

Offerpad Solutions Stock Up 18.3%

Offerpad Solutions stock traded up $0.67 during midday trading on Tuesday, reaching $4.32. The company’s stock had a trading volume of 30,626 shares, compared to its average volume of 198,018. The stock’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $7.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.66 and a quick ratio of 0.69. Offerpad Solutions has a 52-week low of $3.49 and a 52-week high of $63.50. The stock has a market capitalization of $20.43 million, a P/E ratio of -0.35 and a beta of 2.48.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($1.97) earnings per share for the quarter, missing the consensus estimate of ($1.87) by ($0.10). Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The business had revenue of $77.65 million during the quarter, compared to analyst estimates of $85.20 million. On average, sell-side analysts expect that Offerpad Solutions will post -5.8 EPS for the current year.

Insider Activity at Offerpad Solutions

In other news, CEO Brian Bair bought 12,292 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $7.90 per share, for a total transaction of $97,106.80. Following the completion of the transaction, the chief executive officer directly owned 30,745 shares in the company, valued at approximately $242,885.50. This represents a 66.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 16.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Offerpad Solutions

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after purchasing an additional 9,979 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Offerpad Solutions during the third quarter valued at $79,000. Barclays PLC grew its position in Offerpad Solutions by 190.5% during the fourth 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. Engineers Gate Manager LP acquired a new stake in Offerpad Solutions during the fourth quarter valued at $27,000. Finally, Goldman Sachs Group Inc. purchased a new position in Offerpad Solutions in the fourth quarter valued at $32,000. 39.44% of the stock is owned by hedge funds and other institutional investors.

About Offerpad Solutions

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.