Real Brokerage (NASDAQ:REAX) Trading Up 7.7% - Here's What Happened

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report)'s share price traded up 7.7% during trading on Monday . The stock traded as high as $4.12 and last traded at $4.14. 614,283 shares changed hands during trading, a decline of 30% from the average session volume of 881,702 shares. The stock had previously closed at $3.84.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Real Brokerage from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. B. Riley started coverage on shares of Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 price target for the company.

Real Brokerage Price Performance

The firm has a market capitalization of $830.55 million, a PE ratio of -60.00 and a beta of 1.04. The firm has a 50-day simple moving average of $4.18 and a 200-day simple moving average of $4.47.

Real Brokerage (NASDAQ:REAX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $353.98 million for the quarter, compared to analysts' expectations of $332.92 million. Real Brokerage had a negative return on equity of 49.13% and a negative net margin of 1.09%. Equities analysts expect that The Real Brokerage Inc. will post -0.1 earnings per share for the current year.

Real Brokerage declared that its Board of Directors has initiated a stock repurchase program on Friday, May 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of REAX. Fortitude Advisory Group L.L.C. increased its position in Real Brokerage by 30.0% in the second quarter. Fortitude Advisory Group L.L.C. now owns 105,695 shares of the company's stock worth $477,000 after buying an additional 24,380 shares in the last quarter. Apella Capital LLC purchased a new stake in Real Brokerage in the second quarter worth about $230,000. Rhumbline Advisers increased its position in Real Brokerage by 20.7% in the first quarter. Rhumbline Advisers now owns 150,008 shares of the company's stock worth $609,000 after buying an additional 25,684 shares in the last quarter. Strs Ohio purchased a new stake in Real Brokerage in the first quarter worth about $72,000. Finally, Jane Street Group LLC increased its position in Real Brokerage by 568.3% in the first quarter. Jane Street Group LLC now owns 129,153 shares of the company's stock worth $524,000 after buying an additional 109,826 shares in the last quarter. 53.28% of the stock is owned by hedge funds and other institutional investors.

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.