Real Brokerage (NASDAQ:REAX) Shares Gap Up – What’s Next?

The Real Brokerage Inc. (NASDAQ:REAX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.82, but opened at $4.92. Real Brokerage shares last traded at $4.80, with a volume of 89,765 shares.

Analysts Set New Price Targets

Separately, BTIG Research began coverage on Real Brokerage in a report on Wednesday, December 18th. They set a “buy” rating and a $6.00 price target on the stock.

Real Brokerage Stock Performance

The company has a market capitalization of $939.33 million, a P/E ratio of -26.39 and a beta of 0.95. The firm’s fifty day moving average is $5.23 and its 200 day moving average is $5.32.

Real Brokerage (NASDAQ:REAX) last released its earnings results on Thursday, November 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. The firm had revenue of $372.49 million for the quarter, compared to analysts’ expectations of $334.61 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, analysts forecast that The Real Brokerage Inc. will post -0.1 EPS for the current year.

Institutional Trading of Real Brokerage

A number of large investors have recently made changes to their positions in REAX. National Bank of Canada FI increased its stake in Real Brokerage by 198.8% in the 2nd quarter. National Bank of Canada FI now owns 5,975 shares of the company’s stock worth $26,000 after buying an additional 3,975 shares during the period. Wolverine Trading LLC bought a new position in Real Brokerage in the 3rd quarter worth about $56,000. Principal Financial Group Inc. purchased a new position in shares of Real Brokerage during the second quarter worth approximately $52,000. Intech Investment Management LLC bought a new stake in shares of Real Brokerage during the third quarter valued at approximately $98,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Real Brokerage in the third quarter valued at approximately $117,000. 53.28% of the stock is owned by hedge funds and other institutional investors.

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.