Offerpad Solutions (NYSE:OPAD) Shares Scheduled to Reverse Split on Tuesday, June 9th

Shares of Offerpad Solutions Inc. (NYSE:OPAD) are set to reverse split on Tuesday, June 9th. The 1-10 reverse split was announced on Thursday, June 4th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, June 8th.

Offerpad Solutions Trading Down 16.1%

NYSE:OPAD traded down $0.12 on Friday, reaching $0.62. The company’s stock had a trading volume of 1,566,630 shares, compared to its average volume of 2,467,069. Offerpad Solutions has a 12-month low of $0.57 and a 12-month high of $6.35. The company has a quick ratio of 0.69, a current ratio of 1.66 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $0.73 and a 200 day moving average price of $1.07. The firm has a market cap of $29.38 million, a price-to-earnings ratio of -0.51 and a beta of 2.42.

Offerpad Solutions (NYSE:OPAD) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. Offerpad Solutions had a negative return on equity of 112.51% and a negative net margin of 8.51%.The business had revenue of $80.08 million during the quarter, compared to analysts’ expectations of $86.25 million. On average, equities analysts anticipate that Offerpad Solutions will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Offerpad Solutions in a research note on Wednesday, May 27th. Keefe, Bruyette & Woods dropped their price objective on Offerpad Solutions from $1.00 to $0.85 and set a “market perform” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $2.62.

Insider Buying and Selling

In related news, CEO Brian Bair bought 125,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $0.82 per share, with a total value of $102,500.00. Following the purchase, the chief executive officer directly owned 184,534 shares of the company’s stock, valued at $151,317.88. This trade represents a 209.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 40.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OPAD. Engineers Gate Manager LP acquired a new position in Offerpad Solutions during the 4th quarter worth $27,000. Goldman Sachs Group Inc. acquired a new position in Offerpad Solutions during the 4th quarter worth $32,000. Barclays PLC grew its stake in Offerpad Solutions by 190.5% during the 4th quarter. Barclays PLC now owns 33,345 shares of the company’s stock worth $40,000 after purchasing an additional 21,868 shares in the last quarter. AQR Capital Management LLC grew its stake in Offerpad Solutions by 69.6% during the 1st quarter. AQR Capital Management LLC now owns 24,308 shares of the company’s stock worth $40,000 after purchasing an additional 9,979 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Offerpad Solutions during the 2nd quarter worth $44,000. 39.44% of the stock is owned by institutional investors and hedge funds.

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.