5 52-Week Low Stocks to Buy Now

3. Offerpad Solutions Inc. (NYSE:OPAD)

Number of Hedge Fund Holders: 21

52-Week Low as of August 1: $2.11

Offerpad Solutions Inc. (NYSE:OPAD) is an Arizona-based company that buys, sells, rents, and renovates residential properties in the United States. The company operates iBuying, an on-demand real estate solutions platform for homeowners. On June 27, Offerpad Solutions Inc. (NYSE:OPAD) joined the Russell 2000 and Russell 3000 Indexes. The stock reached a 52-week low of $2.11 on August 1. 

Cantor Fitzgerald analyst Brett Knoblauch initiated coverage of Offerpad Solutions Inc. (NYSE:OPAD) on July 22 with an Overweight rating and a $10 price target. The analyst noted that the stock is down about 61% year-to-date as investors are concerned about a slowdown in the housing market, driven by soaring home prices and a significant elevation in mortgage rates. However, the analyst remains confident in the long-term outlook of iBuying gaining market share and Offerpad Solutions Inc. (NYSE:OPAD) being a leading player in the digital real estate market. 

According to Insider Monkey’s data, 21 hedge funds were bullish on Offerpad Solutions Inc. (NYSE:OPAD) at the conclusion of Q1 2022, up from 18 funds in the preceding quarter. Stuart J. Zimmer’s Zimmer Partners is the biggest shareholder of the company, with 3.6 million shares worth $18.5 million.