Offerpad Solutions Inc. [OPAD] stock Downgrade by Keefe Bruyette analyst, price target now $0.40

Offerpad Solutions Inc. [NYSE: OPAD] stock went on an upward path that rose over 25.34% on Wednesday, amounting to a one-week price increase of more than 67.20%. The company report on February 1, 2023 that Offerpad Announces $90 Million Private Placement.

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Offerpad Solutions Inc. (“Offerpad”, “Company”) (NYSE: OPAD), a leading real estate tech company built to simplify home buying and selling, announced today that it has entered into subscription agreements with a group of private investors, together with CEO Brian Bair and existing stockholders Roberto Sella and First American Financial Corporation, to purchase an aggregate of 160,742,959 prefunded warrants to purchase Offerpad’s Class A common stock. Each warrant was sold at a price of $0.5599 per warrant, with an initial exercise price of $0.0001 per warrant, subject to certain customary anti-dilution adjustment provisions, and was calculated based on a 20% discount to the 5-day closing price average on January 27, 2023.

The issuance of the shares of Class A common stock has been approved by Offerpad stockholders representing more than a majority of the voting power of the Company’s common stock, and Offerpad will prepare and file a related information statement with the Securities and Exchange Commission (“SEC”). The pre-funded warrants will not be exercisable until at least 21 days after the definitive information statement is filed with the SEC or such later time as is necessary to comply with the listing requirements of the New York Stock Exchange.

Over the last 12 months, OPAD stock dropped by -68.41%. The one-year Offerpad Solutions Inc. stock forecast points to a potential upside of 26.75. The average equity rating for OPAD stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $294.49 million, with 247.15 million shares outstanding and 205.72 million shares in the current float. Compared to the average trading volume of 718.55K shares, OPAD stock reached a trading volume of 3546412 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Offerpad Solutions Inc. [OPAD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPAD shares is $1.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPAD stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for Offerpad Solutions Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on July 22, 2022, representing the official price target for Offerpad Solutions Inc. stock. Previously, the target price had yet another raise to $5, while Wedbush analysts kept a Outperform rating on OPAD stock.

The Average True Range (ATR) for Offerpad Solutions Inc. is set at 0.12, with the Price to Sales ratio for OPAD stock in the period of the last 12 months amounting to 0.07. The Price to Book ratio for the last quarter was 1.17, with the Price to Cash per share for the same quarter was set at 0.77.

OPAD Stock Performance Analysis:

Offerpad Solutions Inc. [OPAD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 67.20. With this latest performance, OPAD shares gained by 149.73% in over the last four-week period, additionally sinking by -47.73% over the last 6 months – not to mention a drop of -68.41% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OPAD stock in for the last two-week period is set at 78.37, with the RSI for the last a single of trading hit 83.84, and the three-weeks RSI is set at 71.87 for Offerpad Solutions Inc. [OPAD]. The present Moving Average for the last 50 days of trading for this stock 0.6332, while it was recorded at 0.8995 for the last single week of trading, and 2.0253 for the last 200 days.

Insight into Offerpad Solutions Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Offerpad Solutions Inc. [OPAD] shares currently have an operating margin of +0.95 and a Gross Margin at +10.04. Offerpad Solutions Inc.’s Net Margin is presently recorded at +0.31.

Return on Equity for this stock inclined to 2.16, with Return on Assets sitting at 0.74.

Offerpad Solutions Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 1.20.

Offerpad Solutions Inc. [OPAD] Insider Position Details

There are presently around $148 million, or 69.20% of OPAD stock, in the hands of institutional investors. The top three institutional holders of OPAD stocks are: LL FUNDS, LLC with ownership of 100,249,983, which is approximately 0% of the company’s market cap and around 6.20% of the total institutional ownership; VANGUARD GROUP INC, holding 6,537,978 shares of the stock with an approximate value of $7.52 million in OPAD stocks shares; and BLACKROCK INC., currently with $4.39 million in OPAD stock with ownership of nearly -2.295% of the company’s market capitalization.

Positions in Offerpad Solutions Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 42 institutional holders increased their position in Offerpad Solutions Inc. [NYSE:OPAD] by around 2,401,490 shares. Additionally, 46 investors decreased positions by around 8,535,598 shares, while 17 investors held positions by with 117,531,257 shares. The mentioned changes placed institutional holdings at 128,468,345 shares, according to the latest SEC report filing. OPAD stock had 19 new institutional investments in for a total of 1,021,872 shares, while 23 institutional investors sold positions of 1,899,743 shares during the same period.


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