Real Brokerage (NASDAQ:REAX) Shares Down 4.9% – Here’s What Happened

The Real Brokerage Inc. (NASDAQ:REAX) shares traded down 4.9% during mid-day trading on Monday . The company traded as low as $2.64 and last traded at $2.6050. 214,354 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,476,685 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JonesTrading restated a “buy” rating and issued a $5.00 price target on shares of Real Brokerage in a research note on Wednesday, March 4th. Freedom Capital upgraded shares of Real Brokerage to a “strong-buy” rating in a research note on Friday, January 23rd. William Blair reissued an “outperform” rating on shares of Real Brokerage in a report on Wednesday, March 4th. Benchmark began coverage on shares of Real Brokerage in a research report on Thursday, March 26th. They issued a “buy” rating and a $5.50 target price for the company. Finally, Zelman & Associates restated a “neutral” rating on shares of Real Brokerage in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.69.

Real Brokerage Trading Down 2.9%

The firm has a market capitalization of $559.15 million, a price-to-earnings ratio of -88.00 and a beta of 1.02. The business has a 50-day moving average price of $2.55 and a two-hundred day moving average price of $3.35.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $505.14 million during the quarter, compared to analyst estimates of $477.98 million. Real Brokerage had a negative return on equity of 17.37% and a negative net margin of 0.41%. On average, equities research analysts predict that The Real Brokerage Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Real Brokerage

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Real Brokerage by 37.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,833,629 shares of the company’s stock valued at $7,665,000 after acquiring an additional 498,536 shares in the last quarter. Portolan Capital Management LLC lifted its holdings in Real Brokerage by 190.5% in the 3rd quarter. Portolan Capital Management LLC now owns 5,769,203 shares of the company’s stock worth $24,115,000 after purchasing an additional 3,783,281 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Real Brokerage during the third quarter worth approximately $443,000. MQS Management LLC bought a new stake in Real Brokerage during the third quarter worth approximately $73,000. Finally, Fortitude Advisory Group L.L.C. grew its holdings in Real Brokerage by 2.6% during the third quarter. Fortitude Advisory Group L.L.C. now owns 108,425 shares of the company’s stock valued at $453,000 after purchasing an additional 2,730 shares during the last quarter. Institutional investors 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.