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

The Real Brokerage Inc. (NASDAQ:REAX)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.75, but opened at $2.68. Real Brokerage shares last traded at $2.73, with a volume of 1,892,350 shares.

Analysts Set New Price Targets

REAX has been the topic of several research analyst reports. Zacks Research lowered shares of Real Brokerage from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Zelman & Associates upgraded shares of Real Brokerage to an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $4.25 price objective on shares of Real Brokerage in a report on Monday, April 27th. Finally, Edward Jones cut their price objective on Real Brokerage from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Real Brokerage has an average rating of “Moderate Buy” and a consensus price target of $5.15.

Real Brokerage Stock Performance

The company has a 50 day moving average of $1.99 and a 200 day moving average of $2.23. The stock has a market capitalization of $592.80 million, a price-to-earnings ratio of -38.86 and a beta of 0.78.

Real Brokerage (NASDAQ:REAX) last announced its earnings results on Tuesday, June 30th. The company reported ($0.03) earnings per share (EPS) for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%.The business had revenue of $700.58 million for the quarter. On average, equities analysts predict that The Real Brokerage Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Real Brokerage

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in Real Brokerage during the 2nd quarter valued at about $680,000. Private Client Services LLC raised its holdings in Real Brokerage by 61.0% in the 2nd quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock valued at $67,000 after acquiring an additional 13,926 shares during the last quarter. Royal Bank of Canada lifted its stake in Real Brokerage by 126.1% in the 1st quarter. Royal Bank of Canada now owns 20,754 shares of the company’s stock worth $52,000 after purchasing an additional 11,573 shares in the last quarter. State of Wyoming lifted its stake in Real Brokerage by 5.8% in the 1st quarter. State of Wyoming now owns 125,939 shares of the company’s stock worth $315,000 after purchasing an additional 6,950 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in shares of Real Brokerage during the 1st quarter worth approximately $29,000. 53.28% of the stock is currently owned by institutional investors and hedge funds.

Real Brokerage Company Profile

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.