Short Interest in Offerpad Solutions Inc. (NYSE:OPAD) Grows By 21.4%

Offerpad Solutions Inc. (NYSE:OPAD) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 905,700 shares, an increase of 21.4% from the June 30th total of 745,800 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 80,300 shares, the short-interest ratio is currently 11.3 days.

Offerpad Solutions Stock Performance

Shares of NYSE OPAD traded up $0.02 during trading on Friday, reaching $4.62. The company had a trading volume of 23,097 shares, compared to its average volume of 115,327. Offerpad Solutions has a 52 week low of $3.83 and a 52 week high of $13.36. The stock has a market cap of $126.03 million, a PE ratio of -1.67 and a beta of 1.83. The business’s 50 day moving average price is $4.74 and its 200-day moving average price is $6.97.

Offerpad Solutions (NYSE:OPAD) last announced its earnings results on Monday, May 6th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.28). Offerpad Solutions had a negative return on equity of 69.44% and a negative net margin of 7.60%. The company had revenue of $285.36 million during the quarter, compared to the consensus estimate of $272.07 million. Equities analysts anticipate that Offerpad Solutions will post -1.6 earnings per share for the current year.

Insider Activity

In other Offerpad Solutions news, CEO Brian Bair bought 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $5.48 per share, for a total transaction of $219,200.00. Following the transaction, the chief executive officer now owns 852,867 shares in the company, valued at $4,673,711.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Offerpad Solutions news, CEO Brian Bair bought 40,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $5.48 per share, for a total transaction of $219,200.00. Following the transaction, the chief executive officer now owns 852,867 shares in the company, valued at $4,673,711.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roberto Marco Sella purchased 7,698 shares of Offerpad Solutions stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $4.90 per share, for a total transaction of $37,720.20. Following the completion of the transaction, the director now owns 3,138,883 shares of the company’s stock, valued at $15,380,526.70. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 97,717 shares of company stock worth $500,996. Corporate insiders own 43.40% of the company’s stock.

Institutional Investors Weigh In On Offerpad Solutions

An institutional investor recently bought a new position in Offerpad Solutions stock. Cerity Partners LLC purchased a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,396 shares of the company’s stock, valued at approximately $240,000. Cerity Partners LLC owned about 0.09% of Offerpad Solutions at the end of the most recent reporting period. 39.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on OPAD shares. JMP Securities reduced their price target on shares of Offerpad Solutions from $12.00 to $9.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 7th. The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Offerpad Solutions from $6.25 to $6.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.60.

Offerpad Solutions Company Profile

Offerpad Solutions Inc, together with its subsidiaries, provides technology-enabled solutions for residential real estate market in the United States. It operates iBuying, a real estate solutions platform for on-demand customer that provides home buyers the opportunity to browse and tour homes online.