Real Brokerage (NASDAQ:REAX) Shares Gap Down to $5.11

Shares of The Real Brokerage Inc. (NASDAQ:REAX) gapped down before the market opened on Wednesday . The stock had previously closed at $5.11, but opened at $4.76. Real Brokerage shares last traded at $5.23, with a volume of 343,247 shares.

Analyst Ratings Changes

REAX has been the topic of several research analyst reports. Jonestrading reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Real Brokerage in a research report on Monday, April 8th. Roth Mkm raised their price target on shares of Real Brokerage from $2.75 to $3.50 and gave the stock a “buy” rating in a research note on Thursday, January 18th.

Real Brokerage Price Performance

The firm has a fifty day moving average of $3.55 and a two-hundred day moving average of $2.52. The stock has a market capitalization of $917.48 million, a P/E ratio of -32.66 and a beta of 1.01.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The business had revenue of $181.34 million for the quarter, compared to the consensus estimate of $161.37 million. Real Brokerage had a negative net margin of 3.99% and a negative return on equity of 105.23%. As a group, sell-side analysts forecast that The Real Brokerage Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Real Brokerage

Several hedge funds have recently modified their holdings of the stock. Searcy Financial Services Inc. ADV purchased a new position in shares of Real Brokerage in the first quarter worth $37,000. TCI Wealth Advisors Inc. purchased a new position in Real Brokerage in the 1st quarter worth $49,000. HBK Sorce Advisory LLC lifted its position in Real Brokerage by 17.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 72,000 shares of the company’s stock worth $225,000 after acquiring an additional 10,500 shares during the period. Finally, NewEdge Wealth LLC purchased a new stake in Real Brokerage during the 4th quarter valued at about $448,000. Institutional investors and hedge funds own 53.28% of the company’s stock.

About Real Brokerage

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.