Real Brokerage (NASDAQ:REAX) Trading 4.8% Higher – Here’s What Happened

Shares of The Real Brokerage Inc. (NASDAQ:REAX) traded up 4.8% on Tuesday . The stock traded as high as $2.55 and last traded at $2.5350. 1,617,732 shares traded hands during trading, a decline of 47% from the average daily volume of 3,035,564 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

REAX has been the subject of several recent analyst reports. Weiss Ratings raised Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Edward Jones lowered their target price on shares of Real Brokerage from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Zacks Research cut shares of Real Brokerage from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $4.25 price objective on shares of Real Brokerage in a report on Monday, April 27th. Finally, B. Riley Financial restated a “buy” rating on shares of Real Brokerage in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Real Brokerage currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.15.

Real Brokerage Trading Up 5.3%

The firm’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $2.23. The stock has a market capitalization of $608.05 million, a PE ratio of -39.86 and a beta of 0.78.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.03) earnings per share for the quarter. Real Brokerage had a negative net margin of 0.72% and a negative return on equity of 25.32%. The firm had revenue of $700.58 million during the quarter. As a group, sell-side analysts anticipate that The Real Brokerage Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Real Brokerage

A number of large investors have recently bought and sold shares of REAX. Principal Financial Group Inc. acquired a new stake in Real Brokerage in the first quarter valued at approximately $29,000. Abel Hall LLC purchased a new position in shares of Real Brokerage during the 1st quarter valued at approximately $31,000. SmartHarvest Portfolios LLC acquired a new stake in Real Brokerage in the 1st quarter valued at $38,000. Xponance LLC acquired a new stake in Real Brokerage in the 4th quarter valued at $38,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Real Brokerage in the 4th quarter worth $41,000. Institutional investors and hedge funds own 53.28% of the company’s stock.

About Real Brokerage

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.