Real Brokerage (NASDAQ:REAX) Shares Down 4.1% – Here’s Why

The Real Brokerage Inc. (NASDAQ:REAX)’s share price dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $4.59 and last traded at $4.62. Approximately 553,590 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 777,813 shares. The stock had previously closed at $4.82.

Analyst Ratings Changes

Separately, BTIG Research assumed coverage on shares of Real Brokerage in a research note on Wednesday, December 18th. They issued a “buy” rating and a $6.00 target price on the stock.

Real Brokerage Stock Performance

The firm has a market capitalization of $909.67 million, a PE ratio of -25.55 and a beta of 0.95. The company has a fifty day simple moving average of $5.22 and a two-hundred day simple moving average of $5.34.

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

Hedge Funds Weigh In On Real Brokerage

Several institutional investors have recently bought and sold shares of REAX. Harbor Capital Advisors Inc. boosted its position in Real Brokerage by 106.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company’s stock valued at $3,303,000 after acquiring an additional 307,016 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Real Brokerage during the second quarter valued at about $1,091,000. Rhumbline Advisers bought a new stake in Real Brokerage during the second quarter valued at about $474,000. GSA Capital Partners LLP purchased a new position in Real Brokerage in the third quarter valued at about $220,000. Finally, Point72 Asset Management L.P. bought a new position in Real Brokerage in the third quarter worth about $871,000. 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.