Offerpad Solutions (NYSE:OPAD) Stock Price Up 15.5% – Here’s What Happened

Shares of Offerpad Solutions Inc. (NYSE:OPAD) rose 15.5% on Wednesday . The stock traded as high as $4.79 and last traded at $4.77. Approximately 55,587 shares were traded during trading, an increase of 9% from the average daily volume of 50,812 shares. The stock had previously closed at $4.13.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. JMP Securities decreased their price target on Offerpad Solutions from $9.00 to $5.50 and set a “market outperform” rating on the stock in a research note on Tuesday, August 6th. Keefe, Bruyette & Woods reduced their price target on Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating on the stock in a report on Wednesday, November 6th. Finally, Jefferies Financial Group dropped their price objective on Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.33.

Offerpad Solutions Trading Up 2.9 %

The business has a fifty day simple moving average of $3.56 and a two-hundred day simple moving average of $4.12.

Offerpad Solutions (NYSE:OPAD) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The firm had revenue of $208.07 million during the quarter, compared to the consensus estimate of $205.17 million. During the same quarter last year, the company posted ($0.73) EPS. As a group, sell-side analysts expect that Offerpad Solutions Inc. will post -2.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

Several hedge funds have recently bought and sold shares of OPAD. Wilmington Savings Fund Society FSB purchased a new position in shares of Offerpad Solutions during the third quarter valued at approximately $2,417,000. Bank of New York Mellon Corp purchased a new position in Offerpad Solutions during the second quarter valued at $111,000. Barclays PLC raised its stake in Offerpad Solutions by 133.3% during the third quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after buying an additional 11,891 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Offerpad Solutions by 4,655.6% in the second quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock worth $51,000 after acquiring an additional 11,220 shares in the last quarter. Institutional investors own 39.44% of the company’s stock.

Offerpad Solutions Company Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.