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

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on REAX. JonesTrading cut their price target on shares of Real Brokerage from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Zacks Research downgraded 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 target price on shares of Real Brokerage in a research note on Monday, April 27th. B. Riley Financial reissued a “buy” rating on shares of Real Brokerage in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Real Brokerage has a consensus rating of “Moderate Buy” and a consensus target price of $5.15.

Real Brokerage Stock Up 8.1%

The stock has a 50-day moving average price of $1.92 and a 200 day moving average price of $2.25. The firm has a market capitalization of $569.91 million, a price-to-earnings ratio of -37.36 and a beta of 0.78.

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

Hedge Funds Weigh In On Real Brokerage

Several hedge funds and other institutional investors have recently bought and sold shares of REAX. Principal Financial Group Inc. purchased a new position in Real Brokerage in the 1st quarter valued at about $29,000. State of Wyoming grew its stake in shares of Real Brokerage by 5.8% during the 1st quarter. State of Wyoming now owns 125,939 shares of the company’s stock valued at $315,000 after buying an additional 6,950 shares during the period. Abel Hall LLC acquired a new stake in Real Brokerage during the first quarter worth about $31,000. SmartHarvest Portfolios LLC purchased a new position in shares of Real Brokerage in the 1st quarter valued at $38,000. Finally, Whetstone Capital Advisors LLC purchased a new position in Real Brokerage in the fourth quarter valued at about $720,000. 53.28% of the stock is owned by institutional investors and hedge funds.

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.