Real Brokerage (NASDAQ:REAX) Stock Set to Reverse Split on Tuesday, August 25th

Shares of The Real Brokerage Inc. (NASDAQ:REAX) are scheduled to reverse split on Tuesday, August 25th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 24th.

Real Brokerage Stock Down 4.0%

Shares of NASDAQ:REAX traded down $0.11 during trading on Friday, reaching $2.64. 7,428,665 shares of the company traded hands, compared to its average volume of 3,127,043. The firm has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $2.23. Real Brokerage has a 1-year low of $1.55 and a 1-year high of $5.41. The firm has a market cap of $575.37 million, a P/E ratio of -37.71 and a beta of 0.78.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Zacks Research downgraded shares of Real Brokerage from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and issued a $4.25 price objective on shares of Real Brokerage in a research note on Monday, April 27th. Zelman & Associates upgraded shares of Real Brokerage to an “outperform” rating in a report on Friday, August 7th. Edward Jones lowered their target price on shares of Real Brokerage from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, JonesTrading cut their target price on Real Brokerage from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Real Brokerage presently has an average rating of “Moderate Buy” and a consensus price target of $5.15.

Institutional Trading of Real Brokerage

Several large investors have recently modified their holdings of REAX. Bank of New York Mellon Corp acquired a new position in Real Brokerage in the 2nd quarter valued at $680,000. Private Client Services LLC lifted its position in Real Brokerage by 61.0% during the 2nd quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock worth $67,000 after acquiring an additional 13,926 shares during the last quarter. Royal Bank of Canada boosted its holdings in 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 period. State of Wyoming boosted its holdings in Real Brokerage by 5.8% during the first quarter. State of Wyoming now owns 125,939 shares of the company’s stock valued at $315,000 after acquiring an additional 6,950 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Real Brokerage in the first quarter valued at about $29,000. 53.28% of the stock is owned by institutional investors.

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.