Offerpad Solutions (NYSE:OPAD) Trading Down 1.7% – Time to Sell?

Shares of Offerpad Solutions Inc. (NYSE:OPAD) were down 1.7% during trading on Tuesday . The company traded as low as $3.57 and last traded at $3.57. Approximately 47,942 shares changed hands during trading, a decline of 72% from the average daily volume of 173,933 shares. The stock had previously closed at $3.63.

Analyst Upgrades and Downgrades

OPAD has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Monday, August 24th. Keefe, Bruyette & Woods lowered their price target on Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen cut shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Offerpad Solutions in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.83.

Offerpad Solutions Stock Performance

The business’s fifty day moving average is $4.41 and its two-hundred day moving average is $5.94. The company has a quick ratio of 0.46, a current ratio of 1.44 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $17.25 million, a PE ratio of -0.35 and a beta of 2.52.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Monday, August 3rd. The company reported ($1.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.87) by ($0.10). Offerpad Solutions had a negative net margin of 9.85% and a negative return on equity of 99.08%. The business had revenue of $77.65 million for the quarter, compared to analysts’ expectations of $85.20 million. As a group, research analysts anticipate that Offerpad Solutions Inc. will post -7.49 EPS for the current fiscal year.

Institutional Trading of Offerpad Solutions

A hedge fund recently bought a new stake in Offerpad Solutions stock. PEAK6 LLC purchased a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 49,998 shares of the company’s stock, valued at approximately $60,000. PEAK6 LLC owned about 0.11% of Offerpad Solutions as of its most recent filing with the Securities and Exchange Commission. 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.