JPMorgan Chase & Co. Has $80,000 Stock Holdings in Offerpad Solutions Inc. (NYSE:OPAD)

JPMorgan Chase & Co. lifted its stake in Offerpad Solutions Inc. (NYSE:OPAD) by 161.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,173 shares of the company’s stock after purchasing an additional 17,404 shares during the period. JPMorgan Chase & Co. owned 0.10% of Offerpad Solutions worth $80,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Barclays PLC boosted its holdings in Offerpad Solutions by 133.3% during the third 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 last quarter. Watts Gwilliam & Co. LLC bought a new position in Offerpad Solutions during the 4th quarter worth approximately $1,885,000. Finally, SG Americas Securities LLC acquired a new position in Offerpad Solutions during the fourth quarter valued at approximately $87,000. 39.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OPAD. The Goldman Sachs Group reduced their price target on shares of Offerpad Solutions from $2.00 to $1.00 and set a “neutral” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on Offerpad Solutions from $3.15 to $2.25 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. JMP Securities reaffirmed a “market perform” rating on shares of Offerpad Solutions in a research note on Tuesday. Finally, Citizens Jmp downgraded Offerpad Solutions from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Offerpad Solutions currently has a consensus rating of “Hold” and a consensus target price of $2.69.

Offerpad Solutions Trading Down 6.4 %

Shares of OPAD stock opened at $0.96 on Wednesday. The firm’s fifty day moving average price is $1.55 and its two-hundred day moving average price is $2.58. Offerpad Solutions Inc. has a 1 year low of $0.92 and a 1 year high of $7.47. The firm has a market capitalization of $26.39 million, a P/E ratio of -0.44 and a beta of 2.24.

Offerpad Solutions (NYSE:OPAD) last released its earnings results on Monday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.04. Offerpad Solutions had a negative return on equity of 72.88% and a negative net margin of 6.12%. The business had revenue of $160.70 million for the quarter, compared to the consensus estimate of $180.51 million. As a group, equities research analysts forecast that Offerpad Solutions Inc. will post -2.16 EPS for the current fiscal year.

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.