The Real Brokerage Inc. (NASDAQ:REAX) Short Interest Down 95.1% in August

Key Points

• Short interest plunged 95.1% to 1.83 million shares as of August 31, down from 37.52 million shares two weeks earlier. About 13.6% of shares remain sold short, with a days-to-cover ratio of 1.5.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $50 price target. Recent price targets range from $35 to $40, while several firms reiterated or upgraded their buy ratings.
• REAX shares fell 10.6% to $18.53 during Thursday trading, well below the 12-month high of $52.50. The company reported a quarterly loss of $0.30 per share on $700.58 million in revenue, and analysts expect a full-year loss of $0.45 per share.

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,828,854 shares, a decline of 95.1% from the August 15th total of 37,516,208 shares. Approximately 13.6% of the company's shares are sold short. Based on an average trading volume of 1,236,492 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Real Brokerage to a "hold" rating in a research report on Saturday, September 5th. Edward Jones dropped their price target on shares of Real Brokerage from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. JonesTrading upped their price objective on shares of Real Brokerage from $4.00 to $40.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. BTIG Research reiterated a "buy" rating and set a $35.00 price objective (up from $4.25) on shares of Real Brokerage in a research report on Thursday, August 27th. Finally, Weiss Ratings upgraded shares of Real Brokerage from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Real Brokerage presently has an average rating of "Moderate Buy" and an average price target of $50.00.

Institutional Inflows and Outflows

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

Real Brokerage Trading Down 10.6%

REAX stock traded down $2.20 during mid-day trading on Thursday, reaching $18.53. The company's stock had a trading volume of 923,497 shares, compared to its average volume of 991,967. The company has a market cap of $403.77 million, a price-to-earnings ratio of -26.47 and a beta of 0.79. The business's 50 day moving average price is $20.93 and its 200 day moving average price is $21.43. Real Brokerage has a 12 month low of $15.50 and a 12 month high of $52.50.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business 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%. As a group, equities analysts expect that Real Brokerage will post -0.45 EPS for the current fiscal year.

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.

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