Offerpad Solutions Stock Set to Reverse Split on Tuesday, June 9th (NYSE:OPAD)

Offerpad Solutions Inc. (NYSE:OPAD)’s stock is going to reverse split on the morning of Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 8th.

Offerpad Solutions Stock Down 16.1%

Shares of OPAD stock traded down $0.12 on Friday, hitting $0.62. The stock had a trading volume of 1,566,630 shares, compared to its average volume of 2,467,069. Offerpad Solutions has a one year low of $0.57 and a one year high of $6.35. The business has a 50 day moving average price of $0.73 and a 200 day moving average price of $1.06. The company has a market cap of $29.38 million, a PE ratio of -0.51 and a beta of 2.42. The company has a quick ratio of 0.69, a current ratio of 1.66 and a debt-to-equity ratio of 0.32.

Offerpad Solutions (NYSE:OPAD) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $80.08 million during the quarter, compared to analyst estimates of $86.25 million. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. Research analysts anticipate that Offerpad Solutions will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OPAD has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods reduced their price target on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.62.

Insider Activity at Offerpad Solutions

In other news, CEO Brian Bair acquired 125,000 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average cost of $0.82 per share, with a total value of $102,500.00. Following the completion of the acquisition, the chief executive officer owned 184,534 shares of the company’s stock, valued at approximately $151,317.88. This trade represents a 209.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 40.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Offerpad Solutions

A number of large investors have recently bought and sold shares of OPAD. AQR Capital Management LLC raised its position in 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 buying an additional 9,979 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Offerpad Solutions in the 2nd quarter valued at $44,000. Vanguard Group Inc. increased its stake in shares of 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 during the period. Investure LLC acquired a new stake in shares of Offerpad Solutions in the third quarter worth $2,175,000. Finally, Monograph Wealth Advisors LLC purchased a new position in shares of Offerpad Solutions during the third quarter worth $248,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.