Offerpad Solutions (NYSE:OPAD – Get Free Report) announced its earnings results on Monday. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.87) by ($0.07), FiscalAI reports. Offerpad Solutions had a negative net margin of 8.51% and a negative return on equity of 112.51%. The business had revenue of $77.65 million during the quarter, compared to analysts’ expectations of $85.20 million.
Offerpad Solutions Trading Down 3.4%
Shares of OPAD traded down $0.13 during trading hours on Monday, hitting $3.74. The stock had a trading volume of 86,698 shares, compared to its average volume of 199,021. Offerpad Solutions has a 12-month low of $3.52 and a 12-month high of $63.50. The firm has a market cap of $17.69 million, a P/E ratio of -0.31 and a beta of 2.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 1.66. The company’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $7.32.
Insider Buying and Selling at Offerpad Solutions
In related news, CEO Brian Bair bought 12,500 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $8.20 per share, for a total transaction of $102,500.00. Following the purchase, the chief executive officer owned 18,453 shares in the company, valued at $151,314.60. This trade represents a 209.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.70% of the company’s stock.
Hedge Funds Weigh In On Offerpad Solutions
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on OPAD shares. Alliance Global Partners restated a “buy” rating on shares of Offerpad Solutions in a research report on Friday, June 12th. Wall Street Zen cut Offerpad Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Finally, 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. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $26.17.
Read Our Latest Analysis on OPAD
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.
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