Real Brokerage (NASDAQ:REAX) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of The Real Brokerage Inc. (NASDAQ:REAX) saw strong trading volume on Tuesday after JonesTrading raised their price target on the stock from $4.00 to $40.00. JonesTrading currently has a buy rating on the stock. 260,677 shares traded hands during mid-day trading, a decline of 19% from the previous session’s volume of 323,107 shares.The stock last traded at $25.4160 and had previously closed at $24.00.

Several other brokerages have also issued reports on REAX. B. Riley Financial reissued a “buy” rating on shares of Real Brokerage in a report on Friday, May 8th. Zacks Research downgraded Real Brokerage from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Edward Jones reduced their target price on Real Brokerage from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Weiss Ratings raised Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, BTIG Research reiterated a “buy” rating and set a $42.50 price objective on shares of Real Brokerage in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.50.

Institutional Trading of Real Brokerage

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new stake in Real Brokerage in the 1st quarter valued at $29,000. Abel Hall LLC bought a new stake in Real Brokerage during the first quarter worth about $31,000. SmartHarvest Portfolios LLC acquired a new position in Real Brokerage during the first quarter valued at approximately $38,000. Xponance LLC bought a new position in Real Brokerage in the fourth quarter valued at approximately $38,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Real Brokerage during the 4th quarter worth approximately $41,000. 53.28% of the stock is currently owned by institutional investors and hedge funds.

Real Brokerage Trading Down 6.5%

The company has a market cap of $579.40 million, a P/E ratio of -37.99 and a beta of 0.78. The business has a 50 day moving average price of $20.67 and a 200-day moving average price of $22.10.

Real Brokerage (NASDAQ:REAX) last issued its earnings results on Tuesday, June 30th. The company reported ($0.30) earnings per share for the quarter. The firm had revenue of $700.58 million for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%. On average, sell-side analysts expect that The Real Brokerage Inc. will post -0.45 earnings per share for the current year.

About Real Brokerage

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.