Offerpad Solutions Inc. (NYSE:OPAD) Sees Significant Increase in Short Interest

Offerpad Solutions Inc. (NYSE:OPAD) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 4,955,697 shares, an increase of 19.7% from the January 29th total of 4,139,822 shares. Based on an average daily trading volume, of 1,648,623 shares, the short-interest ratio is currently 3.0 days. Approximately 22.6% of the shares of the company are sold short. Approximately 22.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,648,623 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. iA Financial set a $3.50 target price on shares of Offerpad Solutions in a research note on Thursday, December 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Offerpad Solutions from $1.75 to $1.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a report on Wednesday, January 28th. Wall Street Zen upgraded Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Alliance Global Partners assumed coverage on Offerpad Solutions in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.50 price objective on the stock. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Offerpad Solutions currently has an average rating of “Hold” and a consensus price target of $2.25.

Institutional Investors Weigh In On Offerpad Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP purchased a new position in shares of Offerpad Solutions in the 4th quarter worth approximately $27,000. Goldman Sachs Group Inc. bought a new stake in Offerpad Solutions in the fourth quarter worth $32,000. Barclays PLC boosted its stake in Offerpad Solutions by 190.5% during the fourth quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after buying an additional 21,868 shares during the period. AQR Capital Management LLC increased its position in Offerpad Solutions by 69.6% during the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $40,000 after acquiring an additional 9,979 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Offerpad Solutions in the second quarter valued at $44,000. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

Offerpad Solutions Price Performance

NYSE OPAD traded up $0.01 during trading on Wednesday, hitting $0.76. 873,684 shares of the stock traded hands, compared to its average volume of 5,162,030. The company has a quick ratio of 0.43, a current ratio of 1.48 and a debt-to-equity ratio of 0.38. Offerpad Solutions has a 12-month low of $0.71 and a 12-month high of $6.35. The firm has a 50-day simple moving average of $1.13 and a 200-day simple moving average of $2.27. The company has a market capitalization of $27.93 million, a P/E ratio of -0.49 and a beta of 2.39.

Offerpad Solutions (NYSE:OPAD) last posted its earnings results on Monday, February 23rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Offerpad Solutions had a negative return on equity of 135.22% and a negative net margin of 8.17%.The firm had revenue of $114.12 million during the quarter, compared to the consensus estimate of $159.00 million. As a group, analysts predict that Offerpad Solutions will post -2.16 EPS for the current year.

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.