Real Brokerage (NASDAQ:REAX) Shares Up 7.2% – Still a Buy?

The Real Brokerage Inc. (NASDAQ:REAX)’s stock price was up 7.2% during mid-day trading on Tuesday . The company traded as high as $2.33 and last traded at $2.2950. Approximately 5,113,571 shares were traded during mid-day trading, an increase of 73% from the average session volume of 2,955,489 shares. The stock had previously closed at $2.14.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on REAX shares. Zelman & Associates raised shares of Real Brokerage to an “outperform” rating in a report on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $4.25 price target on shares of Real Brokerage in a report on Monday, April 27th. Zacks Research lowered shares of Real Brokerage from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Finally, JonesTrading cut their price objective on shares of Real Brokerage from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.15.

Real Brokerage Price Performance

The firm has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $2.27. The company has a market capitalization of $517.61 million, a price-to-earnings ratio of -33.79 and a beta of 0.78.

Real Brokerage (NASDAQ:REAX) last announced 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. Research analysts predict that The Real Brokerage Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Real Brokerage

A number of large investors have recently added to or reduced their stakes in REAX. Arrowstreet Capital Limited Partnership raised its position in shares of Real Brokerage by 310.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,127,804 shares of the company’s stock worth $8,894,000 after purchasing an additional 1,608,941 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Real Brokerage in the 4th quarter valued at about $5,110,000. UBS Group AG boosted its holdings in Real Brokerage by 894.6% in the 3rd quarter. UBS Group AG now owns 1,288,964 shares of the company’s stock worth $5,388,000 after buying an additional 1,159,366 shares during the last quarter. Nuveen LLC boosted its holdings in Real Brokerage by 104.5% in the 4th quarter. Nuveen LLC now owns 2,071,744 shares of the company’s stock worth $7,562,000 after buying an additional 1,058,670 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd increased its stake in Real Brokerage by 24.9% during the 4th quarter. Ophir Asset Management Pty Ltd now owns 3,952,949 shares of the company’s stock worth $14,428,000 after buying an additional 787,330 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors and hedge funds.

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.