Exp World (NASDAQ:AGNT) Stock Price Crosses Below Fifty Day Moving Average on Disappointing Earnings

Exp World Holdings, Inc. (NASDAQ:AGNT)’s stock price passed below its 50 day moving average during trading on Friday following a dissappointing earnings announcement. The stock has a 50 day moving average of $3.86 and traded as low as $3.08. Exp World shares last traded at $3.10, with a volume of 2,865,865 shares trading hands.

The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). Exp World had a negative net margin of 0.35% and a negative return on equity of 5.43%. The company had revenue of $1.39 billion during the quarter. The firm’s revenue was up 5.8% on a year-over-year basis.

Wall Street Analyst Weigh In

AGNT has been the topic of several research reports. DA Davidson decreased their price target on shares of Exp World from $6.50 to $4.75 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Exp World from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Zacks Research upgraded shares of Exp World from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 23rd. Benchmark dropped their price target on shares of Exp World from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Finally, Citizens Jmp initiated coverage on Exp World in a research note on Wednesday, October 14th. They issued a “market outperform” rating and a $6.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.38.

Insider Activity at Exp World

In related news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of Exp World stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.68, for a total transaction of $31,991,307.20. Following the transaction, the insider owned 18,037,824 shares of the company’s stock, valued at $66,379,192.32. The trade was a 32.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 26.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exp World

A number of hedge funds have recently bought and sold shares of the company. SEB Asset Management AB bought a new stake in shares of Exp World in the 1st quarter worth $587,000. Quadrant Capital Group LLC purchased a new position in Exp World during the third quarter worth about $317,000. Illinois Municipal Retirement Fund grew its position in Exp World by 3.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 54,099 shares of the technology company’s stock worth $324,000 after purchasing an additional 1,872 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in Exp World in the 2nd quarter worth about $279,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Exp World in the 1st quarter valued at about $241,000. 27.17% of the stock is owned by hedge funds and other institutional investors.

Exp World Trading Down 20.7%

The company’s 50-day simple moving average is $3.86 and its 200 day simple moving average is $5.32. The stock has a market cap of $509.39 million, a P/E ratio of -19.38 and a beta of 1.94.

Exp World Company Profile

eXp World Holdings, Inc, together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company operates through North American Realty, International Realty, Virbela, and Other Affiliated Services segments. It provides Virbela, a cloud-based technologies that provides data, lead generation, and marketing tools for real estate agents and employees. In addition, the company offers SUCCESS print magazine, SUCCESS.com portal, SUCCESS newsletters, SUCCESS podcasts, SUCCESS plus, SUCCESS speakers bureau, and SUCCESS coaching, podcasts, and digital training courses.