Offerpad Solutions Inc. (NYSE:OPAD) Short Interest Down 23.1% in January

Offerpad Solutions Inc. (NYSE:OPAD) saw a significant decrease in short interest in January. As of January 30th, there was short interest totaling 4,139,822 shares, a decrease of 23.1% from the January 15th total of 5,386,153 shares. Currently, 18.9% of the company’s shares are short sold. Based on an average trading volume of 2,647,732 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 2,647,732 shares, the days-to-cover ratio is currently 1.6 days. Currently, 18.9% of the company’s shares are short sold.

Offerpad Solutions Stock Up 5.0%

NYSE OPAD traded up $0.04 during trading hours on Friday, reaching $0.82. 1,053,013 shares of the company’s stock traded hands, compared to its average volume of 2,095,289. Offerpad Solutions has a 52-week low of $0.77 and a 52-week high of $6.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.32 and a quick ratio of 0.28. The firm has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $2.30. The firm has a market cap of $30.08 million, a PE ratio of -0.42 and a beta of 2.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Offerpad Solutions by 12.4% in the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock worth $3,297,000 after acquiring an additional 87,144 shares in the last quarter. Marshall Wace LLP bought a new position in Offerpad Solutions in the 4th quarter worth about $768,000. Investure LLC purchased a new stake in Offerpad Solutions during the 3rd quarter valued at about $2,175,000. Geode Capital Management LLC increased its stake in Offerpad Solutions by 37.9% during the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after purchasing an additional 52,312 shares in the last quarter. Finally, Monograph Wealth Advisors LLC bought a new stake in Offerpad Solutions during the 3rd quarter valued at about $248,000. Institutional investors own 39.44% of the company’s stock.

Wall Street Analyst Weigh In

OPAD has been the subject of several research reports. Wall Street Zen upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Alliance Global Partners initiated coverage on shares of Offerpad Solutions in a report on Thursday, December 11th. They issued a “buy” rating and a $3.50 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a research report on Wednesday, January 28th. Finally, iA Financial set a $3.50 target price on Offerpad Solutions in a report on Thursday, December 11th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Offerpad Solutions presently has a consensus rating of “Hold” and an average target price of $2.29.

About Offerpad Solutions

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.