The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Offerpad Solutions Inc. shares valued at $99,500 were purchased by DEGIORGIO KENNETH D on Mar 11. At $3.98 per share, DEGIORGIO KENNETH D acquired 25,000 shares. The insider’s holdings grew to 81,122 shares worth approximately $0.15 million following the completion of this transaction.
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Also, OHARA RYAN purchased 10,000 shares, netting a total of over 41,700 in proceeds. Following the buying of shares at $4.17 each, the insider now holds 51,372 shares.
Before that, DEGIORGIO KENNETH D had added 15,000 shares to its account. In a trade valued at $126,000, the Director bought Offerpad Solutions Inc. shares for $8.40 each. Upon closing the transaction, the insider’s holdings increased to 15,000 shares, worth approximately $96632.28.
Analysts at Wedbush started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid July. As of June 21, 2022, Compass Point has initiated its “Buy” rating for OPAD.
Analyzing OPAD’s Price Performance
On Thursday, Offerpad Solutions Inc. [NYSE: OPAD] plunged -13.40% to $1.81. The stock’s lowest price that day was $1.75, but it reached a high of $2.20 in the same session. During the last five days, there has been a drop of approximately -14.62%. Over the course of the year, Offerpad Solutions Inc. shares have dropped approximately -71.72%. Shares of the company reached a 52-week high of $6.95 on 01/04/22 and a 52-week low of $1.75 on 08/04/22. A 50-day SMA is recorded $3.06, while a 200-day SMA reached $5.02. Nevertheless, trading volume fell to 4.71 million shares from 1.31 million shares the previous day.
Support And Resistance Levels for Offerpad Solutions Inc. (OPAD)
According to the 24-hour chart, there is a support level at 1.64, which, if violated, would cause prices to drop to 1.47. In the upper region, resistance lies at 2.09. The next price resistance is at 2.37. RSI (Relative Strength Index) is 30.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.15, which suggests the price will decrease in the coming days. Percent R is at 92.43%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Offerpad Solutions Inc. subject to short interest?
Stocks of Offerpad Solutions Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.28 million shares to 8.33 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.05 million shares. A jump of 15.37% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.27 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.27.
Which companies own the most shares of Offerpad Solutions Inc. (OPAD)?
According to The Vanguard Group, Inc. filings, the company currently owns 3,965,649 shares, which is about 1.72% of the total OPAD shares outstanding. The investor’s shares have plunged by -162,791 from its previous 13-F filing of 4128440.0 shares. With the completion of the sale transaction, Zimmer Partners LP’s stake is now worth $8,037,331. Ulysses Management LLC reduced a 0.00% interest valued at $7.27 million while Luxor Capital Group LP sold a -1,174,410 stake. A total of 2,835,787 shares of Offerpad Solutions Inc. were sold by Kemnay Advisory Services, Inc. during the quarter, and 0 were sold by Glenmede Investment Management LP. In its current portfolio, Park West Asset Management LLC holds 1,171,000 shares valued at $2.55 million.
In terms of Offerpad Solutions Inc. share price expectations, FactSet research, analysts set an average price target of $4.92 in the next 12 months, up nearly 139.23% from the previous closing price of $2.09. Analysts anticipate Offerpad Solutions Inc. stock to reach $8.50 by 2022, with the lowest price target being $2.00. In spite of this, 9 analysts ranked Offerpad Solutions Inc. stock as an Overweight at the end of 2022. On March 30, 2022, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $6.