The Real Brokerage Inc. (NASDAQ:REAX) Short Interest Down 95.1% in August

The Real Brokerage Inc. (NASDAQ:REAX) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 1,828,854 shares, a decline of 95.1% from the August 15th total of 37,516,208 shares. Currently, 13.6% of the company’s stock are short sold. Based on an average trading volume of 1,236,492 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On Real Brokerage

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC lifted its position in shares of Real Brokerage by 187.3% during the 2nd quarter. Squarepoint Ops LLC now owns 629,469 shares of the company’s stock worth $1,146,000 after buying an additional 410,364 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of Real Brokerage in the second quarter valued at approximately $100,000. Bank of New York Mellon Corp bought a new position in shares of Real Brokerage in the second quarter valued at approximately $680,000. Private Client Services LLC increased its position in shares of Real Brokerage by 61.0% during the second quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock valued at $67,000 after acquiring an additional 13,926 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Real Brokerage by 126.1% during the first quarter. Royal Bank of Canada now owns 20,754 shares of the company’s stock valued at $52,000 after acquiring an additional 11,573 shares during the last quarter. 53.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on REAX. Weiss Ratings upgraded Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Edward Jones decreased their price target on shares of Real Brokerage from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Zelman & Associates upgraded shares of Real Brokerage to an “outperform” rating in a report on Friday, August 7th. JonesTrading raised their price objective on shares of Real Brokerage from $4.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, BTIG Research reiterated a “buy” rating and set a $35.00 price objective (up from $4.25) on shares of Real Brokerage in a report on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Real Brokerage currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Real Brokerage Trading Down 10.6%

Real Brokerage stock traded down $2.20 during trading on Thursday, hitting $18.53. 923,497 shares of the company were exchanged, compared to its average volume of 991,967. The company has a market capitalization of $403.77 million, a P/E ratio of -26.47 and a beta of 0.79. The business’s 50 day moving average is $20.93 and its 200 day moving average is $21.43. Real Brokerage has a 52 week low of $15.50 and a 52 week high of $52.50.

Real Brokerage (NASDAQ:REAX) last posted its quarterly earnings data on Tuesday, June 30th. The company reported ($0.30) earnings per share (EPS) for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%.The firm had revenue of $700.58 million for the quarter. Equities analysts expect that Real Brokerage will post -0.45 EPS for the current year.

Real Brokerage Company Profile

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.