Exp World (NASDAQ:AGNT) Share Price Breaks Below 50 Day Moving Average - Here's Why

Exp World Holdings, Inc. (NASDAQ:AGNT - Get Free Report)'s share price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.94 and traded as low as $3.85. Exp World shares last traded at $3.92, with a volume of 1,334,489 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AGNT shares. Wall Street Zen downgraded shares of Exp World from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Weiss Ratings downgraded shares of Exp World from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Benchmark decreased their price objective on shares of Exp World from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Zacks Research raised Exp World from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 23rd. Finally, Citizens Jmp initiated coverage on Exp World in a research note on Wednesday, October 14th. They set a "market outperform" rating and a $6.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Exp World has an average rating of "Hold" and an average target price of $5.38.

Exp World Trading Down 1.5%

The company's 50 day simple moving average is $3.94 and its 200-day simple moving average is $5.51. The firm has a market cap of $644.13 million, a P/E ratio of -35.64 and a beta of 2.06.

Exp World (NASDAQ:AGNT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%. The company had revenue of $1.45 billion during the quarter. Exp World's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Exp World Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Transactions at Exp World

In other Exp World news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of Exp World stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $3.68, for a total value of $31,991,307.20. Following the completion of the sale, the insider owned 18,037,824 shares of the company's stock, valued at approximately $66,379,192.32. The trade was a 32.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 26.59% of the company's stock.

Institutional Investors Weigh In On Exp World

Hedge funds have recently added to or reduced their stakes in the stock. Philadelphia Investment Partners LLC purchased a new stake in Exp World during the second quarter valued at $46,000. Commonwealth Financial Services LLC bought a new position in Exp World in the first quarter valued at about $111,000. Fifth Third Bancorp lifted its holdings in Exp World by 2,697.1% in the first quarter. Fifth Third Bancorp now owns 21,454 shares of the technology company's stock valued at $129,000 after acquiring an additional 20,687 shares during the period. Cim Investment Management Inc. bought a new position in Exp World in the second quarter valued at about $136,000. Finally, Citizens Financial Group Inc. RI purchased a new position in Exp World in the third quarter worth about $186,000. 27.17% of the stock is currently owned by hedge funds and other institutional investors.

Exp World Company Profile

eXp World Holdings, Inc, together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company operates through North American Realty, International Realty, Virbela, and Other Affiliated Services segments. It provides Virbela, a cloud-based technologies that provides data, lead generation, and marketing tools for real estate agents and employees. In addition, the company offers SUCCESS print magazine, SUCCESS.com portal, SUCCESS newsletters, SUCCESS podcasts, SUCCESS plus, SUCCESS speakers bureau, and SUCCESS coaching, podcasts, and digital training courses.

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