Real Brokerage (NASDAQ:REAX) Stock Price Down 10% - What's Next?

Key Points

• Real Brokerage shares fell 10% to about $2.38 in mid-day trading, with volume below the stock’s average. The company’s market capitalization was approximately $493.6 million.
• Analyst sentiment remains mixed but leans positive: the stock carries a consensus “Moderate Buy” rating and an average price target of $5.15, despite recent downgrades including Zacks Research’s “strong sell” rating.
• A scheduled 1-for-10 reverse stock split will take effect after the market closes on August 24, with trading on a split-adjusted basis beginning August 25. Real Brokerage also reported a quarterly loss of $0.30 per share and continues to have negative profitability metrics.

Shares of The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) were down 10% during mid-day trading on Monday . The company traded as low as $2.37 and last traded at $2.3750. 1,295,605 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 3,108,688 shares. The stock had previously closed at $2.64.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on REAX shares. B. Riley Financial restated a "buy" rating on shares of Real Brokerage in a research report on Friday, May 8th. Weiss Ratings raised Real Brokerage from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. BTIG Research reiterated a "buy" rating and set a $4.25 price target on shares of Real Brokerage in a research report on Monday, April 27th. Zelman & Associates raised Real Brokerage to an "outperform" rating in a report on Friday, August 7th. Finally, Zacks Research cut shares of Real Brokerage from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Real Brokerage currently has a consensus rating of "Moderate Buy" and an average target price of $5.15.

Real Brokerage Stock Down 14.2%

The firm's 50-day moving average is $2.01 and its 200-day moving average is $2.22. The company has a market capitalization of $493.63 million, a PE ratio of -32.36 and a beta of 0.78.

Shares of Real Brokerage are scheduled to reverse split on Tuesday, August 25th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 24th.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The company reported ($0.30) earnings per share for the quarter. Real Brokerage had a negative net margin of 0.72% and a negative return on equity of 25.32%. The firm had revenue of $700.58 million for the quarter. As a group, equities research analysts predict that The Real Brokerage Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Real Brokerage

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source