Offerpad Solutions Sees Unusually Large Options Volume (NYSE:OPAD)

Offerpad Solutions Inc. (NYSE:OPAD) was the target of unusually large options trading on Friday. Stock investors purchased 12,027 call options on the company. This is an increase of 103% compared to the average daily volume of 5,923 call options.

Institutional Investors Weigh In On Offerpad Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of OPAD. AQR Capital Management LLC grew its holdings in Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock valued at $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 second quarter valued at $44,000. Vanguard Group Inc. boosted its stake in shares of Offerpad Solutions by 12.4% during the third quarter. Vanguard Group Inc. now owns 790,570 shares of the company’s stock valued at $3,297,000 after acquiring an additional 87,144 shares during the last quarter. Investure LLC acquired a new stake in shares of Offerpad Solutions during the third quarter valued at $2,175,000. Finally, Monograph Wealth Advisors LLC purchased a new stake in Offerpad Solutions during the 3rd quarter worth about $248,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OPAD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a report on Friday, October 31st. Alliance Global Partners began coverage on shares of Offerpad Solutions in a research report on Thursday, December 11th. They set a “buy” rating and a $3.50 target price on the stock. Wall Street Zen raised shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Industrial Alliance Securities set a $3.50 price target on shares of Offerpad Solutions in a report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Offerpad Solutions has an average rating of “Hold” and an average target price of $2.29.

Offerpad Solutions Trading Up 41.1%

Shares of OPAD stock opened at $2.15 on Friday. The stock has a market cap of $79.06 million, a P/E ratio of -1.11 and a beta of 2.35. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. Offerpad Solutions has a fifty-two week low of $0.91 and a fifty-two week high of $6.35. The business has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $2.38.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $173.01 million. Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. On average, analysts forecast that Offerpad Solutions will post -2.16 earnings per share for the current fiscal year.

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.