Alliance Global Partners Begins Coverage on Offerpad Solutions (NYSE:OPAD)

Analysts at Alliance Global Partners started coverage on shares of Offerpad Solutions (NYSE:OPAD) in a report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

A number of other research firms also recently commented on OPAD. Industrial Alliance Securities set a $3.50 price objective on Offerpad Solutions in a report on Thursday. Wall Street Zen raised Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Offerpad Solutions in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.73.

Offerpad Solutions Trading Down 9.3%

Shares of OPAD traded down $0.18 on Thursday, reaching $1.76. 921,053 shares of the company’s stock were exchanged, compared to its average volume of 733,726. The business has a 50 day moving average price of $2.30 and a two-hundred day moving average price of $2.32. Offerpad Solutions has a 12 month low of $0.91 and a 12 month high of $6.35. The stock has a market capitalization of $64.87 million, a P/E ratio of -0.91 and a beta of 2.31. The company has a current ratio of 1.32, a quick ratio of 0.28 and a debt-to-equity ratio of 0.37.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, November 3rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The business had revenue of $132.68 million for the quarter, compared to analyst estimates of $173.01 million. Offerpad Solutions had a negative return on equity of 147.32% and a negative net margin of 8.74%. Research analysts anticipate that Offerpad Solutions will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Offerpad Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPAD. XTX Topco Ltd acquired a new stake in Offerpad Solutions in the 1st quarter valued at approximately $32,000. AQR Capital Management LLC grew its stake in shares of Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after acquiring an additional 9,979 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Offerpad Solutions in the second quarter valued at approximately $44,000. Tudor Investment Corp ET AL bought a new stake in shares of Offerpad Solutions in the third quarter worth $79,000. Finally, Monograph Wealth Advisors LLC bought a new stake in shares of Offerpad Solutions in the third quarter worth $248,000. 39.44% of the stock is owned by institutional investors and hedge funds.

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.