BTIG Research Initiates Coverage on Real Brokerage (NASDAQ:REAX)

BTIG Research assumed coverage on shares of Real Brokerage (NASDAQ:REAX) in a report issued on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $6.00 price target on the stock.

Real Brokerage Stock Performance

REAX opened at $4.65 on Wednesday. Real Brokerage has a one year low of $1.46 and a one year high of $6.75. The company has a market cap of $919.56 million, a P/E ratio of -25.83 and a beta of 0.95. The business’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $5.31.

Real Brokerage (NASDAQ:REAX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share (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 during the quarter, compared to the consensus estimate of $334.61 million. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, analysts predict that Real Brokerage will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Real Brokerage

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Real Brokerage in the second quarter valued at $1,091,000. Principal Financial Group Inc. acquired a new stake in shares of Real Brokerage in the 2nd quarter valued at about $52,000. Valmark Advisers Inc. grew its stake in Real Brokerage by 117.0% during the 2nd quarter. Valmark Advisers Inc. now owns 49,324 shares of the company’s stock worth $200,000 after buying an additional 26,596 shares during the last quarter. Rhumbline Advisers acquired a new position in Real Brokerage during the second quarter worth approximately $474,000. Finally, National Bank of Canada FI lifted its stake in Real Brokerage by 198.8% in the second quarter. National Bank of Canada FI now owns 5,975 shares of the company’s stock valued at $26,000 after buying an additional 3,975 shares during the last quarter. 53.28% of the stock is currently owned by institutional investors and hedge funds.

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.