Real Brokerage (NASDAQ:REAX) Shares Up 7.2% - Here's Why

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) shot up 7.2% during trading on Wednesday . The company traded as high as $4.38 and last traded at $4.40. 251,720 shares were traded during trading, a decline of 73% from the average session volume of 935,271 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

A number of research firms have commented on REAX. Jones Trading reissued a "buy" rating and set a $6.00 target price on shares of Real Brokerage in a research report on Thursday, March 6th. Wall Street Zen cut Real Brokerage from a "buy" rating to a "hold" rating in a research note on Friday. Finally, B. Riley assumed coverage on Real Brokerage in a research report on Wednesday. They set a "buy" rating and a $7.00 price objective on the stock.

Real Brokerage Price Performance

The company's fifty day simple moving average is $4.27 and its 200-day simple moving average is $4.55. The firm has a market capitalization of $889.88 million, a PE ratio of -64.29 and a beta of 1.04.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Real Brokerage had a negative return on equity of 49.13% and a negative net margin of 1.09%. The firm had revenue of $353.98 million during the quarter, compared to analyst estimates of $332.92 million. As a group, equities research analysts anticipate that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

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

Institutional Trading of Real Brokerage

A number of institutional investors have recently bought and sold shares of REAX. Nuveen LLC purchased a new position in shares of Real Brokerage in the first quarter worth $4,660,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Real Brokerage in the 4th quarter valued at $3,574,000. Renaissance Technologies LLC raised its stake in Real Brokerage by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 759,100 shares of the company's stock worth $3,492,000 after acquiring an additional 264,600 shares during the last quarter. Shay Capital LLC lifted its position in Real Brokerage by 69.3% during the 4th quarter. Shay Capital LLC now owns 533,285 shares of the company's stock worth $2,453,000 after acquiring an additional 218,285 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Real Brokerage by 31.6% during the 4th quarter. JPMorgan Chase & Co. now owns 831,829 shares of the company's stock valued at $3,826,000 after purchasing an additional 199,913 shares during the last quarter. 53.28% of the stock is currently owned by institutional investors and hedge funds.

About Real Brokerage

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.