Offerpad Solutions (NYSE:OPAD) Stock Rating Lowered by Citizens Jmp

Citizens Jmp cut shares of Offerpad Solutions (NYSE:OPAD) from an outperform rating to a market perform rating in a research report released on Tuesday morning, Marketbeat Ratings reports.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group dropped their price objective on Offerpad Solutions from $5.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Keefe, Bruyette & Woods dropped their price objective on shares of Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.38.

Offerpad Solutions Price Performance

OPAD opened at $1.12 on Tuesday. Offerpad Solutions has a 1 year low of $0.92 and a 1 year high of $7.47. The stock’s 50 day simple moving average is $1.52 and its 200 day simple moving average is $2.56. The firm has a market cap of $30.67 million, a price-to-earnings ratio of -0.51 and a beta of 2.24.

Offerpad Solutions (NYSE:OPAD) last issued its earnings results on Monday, May 5th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.04. The company had revenue of $160.70 million for the quarter, compared to the consensus estimate of $180.51 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. As a group, sell-side analysts anticipate that Offerpad Solutions will post -2.16 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OPAD. XTX Topco Ltd bought a new position in shares of Offerpad Solutions during the 1st quarter valued at $32,000. Jane Street Group LLC bought a new position in Offerpad Solutions in the fourth quarter valued at about $34,000. JPMorgan Chase & Co. boosted its position in Offerpad Solutions by 140.1% in the third quarter. JPMorgan Chase & Co. now owns 10,769 shares of the company’s stock worth $44,000 after purchasing an additional 6,284 shares during the last quarter. Barclays PLC grew its stake in shares of Offerpad Solutions by 133.3% during the 3rd quarter. Barclays PLC now owns 20,813 shares of the company’s stock valued at $83,000 after purchasing an additional 11,891 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Offerpad Solutions during the 4th quarter valued at about $87,000. Hedge funds and other institutional investors own 39.44% of the company’s stock.

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.