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

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

Analyst Upgrades and Downgrades

Several research firms have commented on OPAD. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Monday, August 24th. Keefe, Bruyette & Woods reduced their price target on shares of Offerpad Solutions from $5.50 to $4.50 and set a “market perform” rating for the company in a research note on Tuesday, August 4th. Alliance Global Partners reiterated a “buy” rating on shares of Offerpad Solutions in a report on Friday, June 12th. Finally, Wall Street Zen lowered shares of Offerpad Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.83.

Offerpad Solutions Price Performance

The company has a current ratio of 1.44, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. The business’s fifty day moving average is $4.38 and its 200 day moving average is $5.91. The firm has a market capitalization of $16.77 million, a P/E ratio of -0.34 and a beta of 2.52.

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

Institutional Investors Weigh In On Offerpad Solutions

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