Offerpad Solutions (NYSE:OPAD) Cut to “Sell” at Wall Street Zen

Offerpad Solutions (NYSE:OPAD) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other brokerages have also weighed in on OPAD. Alliance Global Partners reissued a “buy” rating on shares of Offerpad Solutions in a research report on Friday. Keefe, Bruyette & Woods dropped their target price on Offerpad Solutions from $10.00 to $8.50 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Offerpad Solutions in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.17.

Offerpad Solutions Stock Performance

Shares of Offerpad Solutions stock opened at $5.05 on Friday. The business has a 50-day moving average of $7.13 and a 200 day moving average of $10.19. Offerpad Solutions has a 12 month low of $4.17 and a 12 month high of $63.50. The stock has a market capitalization of $23.89 million, a price-to-earnings ratio of -0.41 and a beta of 2.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.66 and a quick ratio of 0.69.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Thursday, April 30th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The company had revenue of $80.08 million during the quarter, compared to analysts’ expectations of $86.25 million. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%. As a group, sell-side analysts forecast that Offerpad Solutions will post -5.8 earnings per share for the current year.

Insider Buying and Selling

In other Offerpad Solutions news, CEO Brian Bair bought 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $8.20 per share, for a total transaction of $102,500.00. Following the completion of the purchase, the chief executive officer owned 18,453 shares of the company’s stock, valued at $151,314.60. This trade represents a 209.98% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 40.60% of the company’s stock.

Institutional Investors Weigh In On Offerpad Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Offerpad Solutions by 12.4% during 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 last quarter. Marshall Wace LLP purchased a new position in Offerpad Solutions in the fourth quarter valued at about $768,000. Investure LLC purchased a new position in Offerpad Solutions in the third quarter valued at about $2,175,000. Quadrature Capital Ltd purchased a new position in Offerpad Solutions in the fourth quarter valued at about $306,000. Finally, Geode Capital Management LLC lifted its holdings in Offerpad Solutions by 37.9% during the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock worth $231,000 after buying an additional 52,312 shares during the last quarter. 39.44% of the stock is currently owned by institutional investors and hedge funds.

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.