Real Brokerage (NASDAQ:REAX) Stock Price Down 5.4% – Here’s What Happened

Shares of The Real Brokerage Inc. (NASDAQ:REAX) traded down 5.4% on Tuesday . The company traded as low as $4.16 and last traded at $4.20. 509,356 shares were traded during mid-day trading, a decline of 39% from the average session volume of 835,893 shares. The stock had previously closed at $4.44.

Wall Street Analyst Weigh In

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

Real Brokerage Stock Performance

The firm has a market cap of $830.57 million, a PE ratio of -23.33 and a beta of 1.00. The firm’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $5.36.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings results 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 business had revenue of $372.49 million during the quarter, compared to analysts’ expectations of $334.61 million. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. During the same period in the prior year, the business posted ($0.02) EPS. On average, analysts forecast that The Real Brokerage Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Real Brokerage

Several institutional investors have recently bought and sold shares of REAX. State Street Corp increased its holdings in Real Brokerage by 48.0% during the 3rd quarter. State Street Corp now owns 1,364,358 shares of the company’s stock worth $7,572,000 after purchasing an additional 442,612 shares during the period. Geode Capital Management LLC increased its holdings in shares of Real Brokerage by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,224,183 shares of the company’s stock valued at $6,794,000 after acquiring an additional 14,045 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Real Brokerage by 607.9% during the third quarter. JPMorgan Chase & Co. now owns 631,916 shares of the company’s stock worth $3,507,000 after acquiring an additional 542,653 shares during the last quarter. Harbor Capital Advisors Inc. lifted 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 worth $3,303,000 after acquiring an additional 307,016 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Real Brokerage by 30.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 294,284 shares of the company’s stock worth $1,633,000 after purchasing an additional 69,343 shares during the period. 53.28% of the stock is 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.