Offerpad Solutions (NYSE:OPAD) Stock Price Up 15.5% – Should You Buy?

Offerpad Solutions Inc. (NYSE:OPAD) shares traded up 15.5% during mid-day trading on Wednesday . The company traded as high as $4.79 and last traded at $4.77. 55,587 shares traded hands during trading, an increase of 9% from the average session volume of 50,812 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

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

Offerpad Solutions Trading Up 15.5 %

The firm has a fifty day moving average of $3.55 and a two-hundred day moving average of $4.11. The company has a market capitalization of $130.55 million, a PE ratio of -2.17 and a beta of 1.86.

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

Hedge Funds Weigh In On Offerpad Solutions

Several hedge funds and other institutional investors have recently modified their holdings of OPAD. Wilmington Savings Fund Society FSB bought a new position in Offerpad Solutions in the third quarter worth $2,417,000. Bank of New York Mellon Corp purchased a new stake in shares of Offerpad Solutions in the 2nd quarter worth about $111,000. Barclays PLC increased its stake in shares of Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock worth $83,000 after acquiring an additional 11,891 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Offerpad Solutions by 4,655.6% during the 2nd quarter. Rhumbline Advisers now owns 11,461 shares of the company’s stock valued at $51,000 after acquiring an additional 11,220 shares during the period. Hedge funds and other institutional investors own 39.44% of the company’s stock.

About Offerpad Solutions

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.