MYDA Advisors LLC acquired a new position in shares of Offerpad Solutions Inc. (NYSE:OPAD – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 70,000 shares of the company’s stock, valued at approximately $37,000.
Several other institutional investors have also recently added to or reduced their stakes in OPAD. Renaissance Technologies LLC grew its position in Offerpad Solutions by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 246,100 shares of the company’s stock valued at $130,000 after acquiring an additional 71,215 shares in the last quarter. Alliancebernstein L.P. grew its position in Offerpad Solutions by 50.5% in the 4th quarter. Alliancebernstein L.P. now owns 89,700 shares of the company’s stock valued at $41,000 after acquiring an additional 30,100 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Offerpad Solutions by 122.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 121,461 shares of the company’s stock valued at $56,000 after acquiring an additional 66,795 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Offerpad Solutions by 14.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,376 shares of the company’s stock valued at $270,000 after acquiring an additional 73,753 shares in the last quarter. Finally, Barclays PLC grew its position in Offerpad Solutions by 1.8% in the 4th quarter. Barclays PLC now owns 885,497 shares of the company’s stock valued at $408,000 after acquiring an additional 15,437 shares in the last quarter.
Offerpad Solutions Stock Performance
Offerpad Solutions stock opened at $10.09 on Tuesday. The firm has a market capitalization of $274.71 million, a price-to-earnings ratio of -0.65 and a beta of 1.91. Offerpad Solutions Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $24.15. The stock’s fifty day moving average is $11.48 and its two-hundred day moving average is $9.47.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on OPAD. JMP Securities lifted their target price on Offerpad Solutions from $11.00 to $14.00 and gave the company a “market outperform” rating in a research report on Friday, June 30th. Jefferies Financial Group boosted their price objective on Offerpad Solutions from $7.50 to $11.00 and gave the stock a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.10.
Offerpad Solutions Company Profile
Offerpad Solutions Inc, together with its subsidiaries, engages in buying, selling, renting, and renovating properties to homeowners in the United States. It operates iBuying, a real estate solutions platform for on-demand customer. The company's platform enables customers to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.
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