Analysts Set Offerpad Solutions Inc. (NYSE:OPAD) PT at $2.29

Shares of Offerpad Solutions Inc. (NYSE:OPAD) have been given a consensus rating of “Hold” by the seven analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $2.2875.

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Offerpad Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. iA Financial set a $3.50 price target on shares of Offerpad Solutions in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Offerpad Solutions in a research note on Wednesday, January 28th. Finally, Alliance Global Partners began coverage on shares of Offerpad Solutions in a report on Thursday, December 11th. They set a “buy” rating and a $3.50 target price on the stock.

Offerpad Solutions Stock Up 1.9%

OPAD opened at $0.91 on Friday. The business’s fifty day simple moving average is $1.39 and its 200 day simple moving average is $2.32. Offerpad Solutions has a 52 week low of $0.86 and a 52 week high of $6.35. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The stock has a market cap of $33.44 million, a PE ratio of -0.47 and a beta of 2.36.

Institutional Investors Weigh In On Offerpad Solutions

Several institutional investors have recently bought and sold shares of OPAD. Goldman Sachs Group Inc. purchased a new position in shares of Offerpad Solutions during the 4th quarter worth approximately $32,000. AQR Capital Management LLC grew its stake in Offerpad Solutions by 69.6% in the first quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after purchasing an additional 9,979 shares during the period. Jane Street Group LLC bought a new position in Offerpad Solutions in the second quarter worth $44,000. Tudor Investment Corp ET AL purchased a new position in Offerpad Solutions during the third quarter valued at $79,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Offerpad Solutions by 37.9% during the 4th quarter. Geode Capital Management LLC now owns 190,509 shares of the company’s stock valued at $231,000 after buying an additional 52,312 shares in the last quarter. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

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.