Real Brokerage (NASDAQ:REAX) Shares Up 6.3% - What's Next?

Key Points

• The stock price of Real Brokerage Inc. (NASDAQ:REAX) rose by 6.3% during mid-day trading, closing at $4.92 after hitting a peak of $4.90.
• Analysts have set a consensus price target of $6.33 for the stock, with one rating a Strong Buy and two others giving it a Buy rating.
• The company has initiated a $150 million share buyback plan, indicating that its board believes the shares are undervalued.

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) shares rose 6.3% during mid-day trading on Monday . The stock traded as high as $4.90 and last traded at $4.92. Approximately 553,483 shares changed hands during trading, a decline of 45% from the average daily volume of 1,005,223 shares. The stock had previously closed at $4.63.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. B. Riley began coverage on Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 price objective on the stock. Jones Trading reissued a "buy" rating and issued a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Real Brokerage from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Real Brokerage currently has an average rating of "Buy" and an average price target of $6.33.

Real Brokerage Trading Up 3.1%

The business has a fifty day moving average price of $4.31 and a 200-day moving average price of $4.41. The stock has a market capitalization of $1.06 billion, a PE ratio of -107.60 and a beta of 1.02.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $540.75 million during the quarter, compared to analysts' expectations of $510.58 million. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%. On average, equities analysts anticipate that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

Real Brokerage announced that its Board of Directors has authorized a stock repurchase plan on Friday, May 30th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Real Brokerage

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in Real Brokerage by 694.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 92,781 shares of the company's stock valued at $377,000 after acquiring an additional 81,107 shares during the period. Golden State Wealth Management LLC boosted its holdings in Real Brokerage by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company's stock valued at $49,000 after acquiring an additional 6,000 shares during the period. New York State Teachers Retirement System purchased a new stake in Real Brokerage during the 1st quarter valued at about $37,000. Avantax Advisory Services Inc. boosted its holdings in Real Brokerage by 52.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 22,206 shares of the company's stock valued at $90,000 after acquiring an additional 7,621 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Real Brokerage by 20.7% during the 1st quarter. Rhumbline Advisers now owns 150,008 shares of the company's stock valued at $609,000 after acquiring an additional 25,684 shares during the period. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

Real Brokerage Company Profile

The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.