Real Brokerage (NASDAQ:REAX) Shares Gap Down - Here's What Happened

Key Points

• Real Brokerage shares opened lower, falling from a previous close of $2.75 to $2.68 before recovering slightly to $2.73 on volume of about 1.9 million shares.
• Analyst views were mixed, but the stock carries a consensus “Moderate Buy” rating with a $5.15 target price. Price targets and ratings ranged from Edward Jones’ reduced $4.00 target to Zacks Research’s “Strong Sell” downgrade.
• The company reported a quarterly loss of $0.03 per share on $700.58 million in revenue, while analysts expect a full-year loss of $0.05 per share. Institutional investors own approximately 53.28% of the stock.

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report)'s stock price gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on REAX shares. Edward Jones lowered their price target on shares of Real Brokerage from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. B. Riley Financial reaffirmed a "buy" rating on shares of Real Brokerage in a report on Friday, May 8th. Weiss Ratings upgraded Real Brokerage from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Zelman & Associates raised Real Brokerage to an "outperform" rating in a report on Friday, August 7th. Finally, Zacks Research lowered Real Brokerage from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $5.15.

Real Brokerage Price Performance

The business's fifty day simple moving average is $1.99 and its two-hundred day simple moving average is $2.23. The company has a market cap of $592.80 million, a PE ratio of -38.86 and a beta of 0.78.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.03) earnings per share for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%.The firm had revenue of $700.58 million during the quarter. As a group, analysts predict that The Real Brokerage Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Real Brokerage

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. acquired a new stake in Real Brokerage in the first quarter valued at approximately $29,000. Abel Hall LLC acquired a new position in shares of Real Brokerage during the 1st quarter worth approximately $31,000. SmartHarvest Portfolios LLC purchased a new position in shares of Real Brokerage during the 1st quarter valued at approximately $38,000. Xponance LLC purchased a new position in shares of Real Brokerage during the 4th quarter valued at approximately $38,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Real Brokerage in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 53.28% of the company's stock.

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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