Real Brokerage (NASDAQ:REAX) Trading 4.7% Higher – Here’s Why

The Real Brokerage Inc. (NASDAQ:REAX)’s share price traded up 4.7% during mid-day trading on Tuesday . The company traded as high as $4.68 and last traded at $4.67. Approximately 408,055 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 884,600 shares. The stock had previously closed at $4.46.

Analysts Set New Price Targets

Several equities analysts recently commented on REAX shares. BTIG Research initiated coverage on shares of Real Brokerage in a research note on Wednesday, December 18th. They set a “buy” rating and a $6.00 price objective for the company. Jones Trading reaffirmed a “buy” rating and issued a $6.00 price target on shares of Real Brokerage in a report on Thursday, March 6th.

Real Brokerage Price Performance

The stock has a 50 day moving average of $4.69 and a 200 day moving average of $4.94. The firm has a market cap of $929.84 million, a P/E ratio of -26.12 and a beta of 1.13.

Real Brokerage (NASDAQ:REAX) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $350.63 million for the quarter, compared to analyst estimates of $300.11 million. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. On average, research analysts predict that The Real Brokerage Inc. will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REAX. State Street Corp grew its holdings in shares of Real Brokerage by 48.0% during the third quarter. State Street Corp now owns 1,364,358 shares of the company’s stock valued at $7,572,000 after buying an additional 442,612 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Real Brokerage by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,264,640 shares of the company’s stock worth $5,817,000 after purchasing an additional 40,457 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Real Brokerage by 31.6% during the fourth quarter. JPMorgan Chase & Co. now owns 831,829 shares of the company’s stock valued at $3,826,000 after purchasing an additional 199,913 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Real Brokerage in the 4th quarter worth about $3,574,000. Finally, Renaissance Technologies LLC grew its stake in shares of Real Brokerage by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 759,100 shares of the company’s stock worth $3,492,000 after acquiring an additional 264,600 shares during the period. Institutional investors own 53.28% of the company’s stock.

Real Brokerage Company Profile

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.