Offerpad Solutions (NYSE:OPAD) Stock Price Up 15.5% - Time to Buy?

Shares of Offerpad Solutions Inc. (NYSE:OPAD - Get Free Report) rose 15.5% on Wednesday . The stock traded as high as $4.79 and last traded at $4.77. Approximately 55,587 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 50,812 shares. The stock had previously closed at $4.13.

Wall Street Analysts Forecast Growth

OPAD has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price target on Offerpad Solutions from $3.50 to $3.00 and set a "hold" rating for the company in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods decreased their price target on Offerpad Solutions from $3.75 to $3.15 and set a "market perform" rating for the company in a research note on Wednesday, November 6th. Finally, JMP Securities decreased their price target on Offerpad Solutions from $9.00 to $5.50 and set a "market outperform" rating for the company in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.33.

Offerpad Solutions Price Performance

The company has a market cap of $130.57 million, a PE ratio of -2.17 and a beta of 1.86. The business has a 50-day moving average of $3.55 and a 200 day moving average of $4.11.

Offerpad Solutions (NYSE:OPAD - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.05). The firm had revenue of $208.07 million for the quarter, compared to analysts' expectations of $205.17 million. Offerpad Solutions had a negative net margin of 6.12% and a negative return on equity of 72.88%. During the same quarter last year, the company posted ($0.73) EPS. On average, equities analysts predict that Offerpad Solutions Inc. will post -2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Offerpad Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPAD. Rhumbline Advisers increased its stake in shares of Offerpad Solutions by 4,655.6% in the second quarter. Rhumbline Advisers now owns 11,461 shares of the company's stock worth $51,000 after purchasing an additional 11,220 shares in the last quarter. Barclays PLC boosted its holdings in Offerpad Solutions by 133.3% in the 3rd quarter. Barclays PLC now owns 20,813 shares of the company's stock worth $83,000 after buying an additional 11,891 shares during the period. Bank of New York Mellon Corp purchased a new stake in Offerpad Solutions in the 2nd quarter worth $111,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Offerpad Solutions during the third quarter valued at about $2,417,000. Institutional investors own 39.44% of the company's stock.

About Offerpad Solutions

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.