Offerpad Solutions (NYSE:OPAD) Sets New 52-Week Low at $2.91

Offerpad Solutions Inc. (NYSE:OPAD – Get Rating)’s share price hit a new 52-week low on Thursday . The company traded as low as 2.91 and last traded at 2.91, with a volume of 63918 shares traded. The stock had previously closed at 3.00.

A number of analysts have recently commented on the stock. Compass Point assumed coverage on shares of Offerpad Solutions in a research note on Tuesday. They set a “buy” rating and a $5.50 target price for the company. The Goldman Sachs Group began coverage on shares of Offerpad Solutions in a research note on Wednesday, March 30th. They issued a “neutral” rating and a $6.00 price target for the company. Finally, JMP Securities dropped their price target on shares of Offerpad Solutions from $12.00 to $8.50 and set a “mkt outperform” rating for the company in a research note on Thursday, June 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Offerpad Solutions presently has an average rating of “Moderate Buy” and an average price target of 9.25.

The stock’s 50-day simple moving average is 4.66 and its 200 day simple moving average is 4.98.

Offerpad Solutions (NYSE:OPAD – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported 0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.03 by 0.13. The business had revenue of 1.37 billion for the quarter, compared to analysts’ expectations of 1.14 billion. On average, analysts anticipate that Offerpad Solutions Inc. will post 0.25 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. acquired a new position in Offerpad Solutions during the first quarter valued at approximately $42,000. Fox Run Management L.L.C. acquired a new position in shares of Offerpad Solutions during the first quarter worth $57,000. CIBC Asset Management Inc acquired a new position in shares of Offerpad Solutions during the fourth quarter worth $76,000. Victory Capital Management Inc. acquired a new position in shares of Offerpad Solutions during the fourth quarter worth $87,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Offerpad Solutions during the third quarter worth $96,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Offerpad Solutions Company Profile (NYSE:OPAD)

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 provides customer-centric experience, which enables them to sell and buy homes online with streamlined access to ancillary services, such as mortgage and title insurance services.

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