Stock Traders Purchase High Volume of Call Options on Offerpad Solutions (NYSE:OPAD)

Offerpad Solutions Inc. (NYSE:OPAD) was the target of some unusual options trading on Friday. Investors acquired 12,027 call options on the stock. This represents an increase of approximately 103% compared to the average daily volume of 5,923 call options.

Offerpad Solutions Trading Up 51.0%

Shares of OPAD stock traded up $0.78 during trading hours on Friday, reaching $2.30. 70,223,570 shares of the stock traded hands, compared to its average volume of 11,329,353. The company has a quick ratio of 0.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $84.59 million, a PE ratio of -1.19 and a beta of 2.35. Offerpad Solutions has a 1-year low of $0.91 and a 1-year high of $6.35. The business has a fifty day moving average price of $1.71 and a 200 day moving average price of $2.36.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Offerpad Solutions had a negative net margin of 8.74% and a negative return on equity of 147.32%. The business had revenue of $132.68 million for the quarter, compared to analysts’ expectations of $173.01 million. On average, equities research analysts forecast that Offerpad Solutions will post -2.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on OPAD. Alliance Global Partners began coverage on shares of Offerpad Solutions in a research report on Thursday, December 11th. They issued a “buy” rating and a $3.50 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Offerpad Solutions in a report on Friday, October 31st. Industrial Alliance Securities set a $3.50 target price on shares of Offerpad Solutions in a research note on Thursday, December 11th. Finally, Wall Street Zen upgraded shares of Offerpad Solutions from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Offerpad Solutions has an average rating of “Hold” and a consensus price target of $2.29.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OPAD. AQR Capital Management LLC lifted its position in Offerpad Solutions by 69.6% in the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after buying an additional 9,979 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Offerpad Solutions during the second quarter worth $44,000. Tudor Investment Corp ET AL acquired a new stake in Offerpad Solutions during the third quarter valued at $79,000. Monograph Wealth Advisors LLC acquired a new stake in Offerpad Solutions during the third quarter valued at $248,000. Finally, Investure LLC purchased a new position in Offerpad Solutions in the third quarter valued at about $2,175,000. Institutional investors and hedge funds own 39.44% of the company’s stock.

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.