Offerpad Solutions (NYSE:OPAD) Trading 15.5% Higher – Should You Buy?

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

Analyst Ratings Changes

OPAD has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of Offerpad Solutions from $3.50 to $3.00 and set a “hold” rating for the company in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Offerpad Solutions from $3.75 to $3.15 and set a “market perform” rating for the company in a research report on Wednesday, November 6th. Finally, JMP Securities cut their target price 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.33.

Offerpad Solutions Stock Performance

The business’s fifty day moving average price is $3.56 and its 200-day moving average price is $4.12.

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

Institutional Trading of Offerpad Solutions

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