The Real Brokerage Inc. (NASDAQ:REAX) Short Interest Down 27.9% in May

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 2,380,000 shares, a drop of 27.9% from the May 15th total of 3,300,000 shares. Based on an average daily volume of 919,700 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.2% of the shares of the stock are sold short.

Real Brokerage Stock Performance

Shares of Real Brokerage stock opened at $3.96 on Wednesday. Real Brokerage has a 52-week low of $3.55 and a 52-week high of $6.75. The company's 50 day moving average price is $4.33 and its 200-day moving average price is $4.61. The stock has a market capitalization of $783.09 million, a price-to-earnings ratio of -56.57 and a beta of 1.04.

Real Brokerage (NASDAQ:REAX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (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 for the quarter, compared to analysts' expectations of $332.92 million. As a group, equities research analysts forecast that Real Brokerage will post -0.1 earnings per share for the current fiscal year.

Real Brokerage announced that its Board of Directors has authorized a stock buyback program on Friday, May 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Jones Trading restated a "buy" rating and set a $6.00 target price on shares of Real Brokerage in a research report on Thursday, March 6th.

Hedge Funds Weigh In On Real Brokerage

A number of institutional investors have recently added to or reduced their stakes in REAX. Rhumbline Advisers increased its stake in shares of Real Brokerage by 4.1% during the fourth quarter. Rhumbline Advisers now owns 124,324 shares of the company's stock valued at $572,000 after purchasing an additional 4,906 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Real Brokerage by 11.0% in the 4th quarter. Principal Financial Group Inc. now owns 80,434 shares of the company's stock worth $370,000 after buying an additional 7,967 shares during the last quarter. US Bancorp DE bought a new position in Real Brokerage during the 4th quarter valued at approximately $85,000. Charles Schwab Investment Management Inc. raised its stake in Real Brokerage by 48.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,295 shares of the company's stock valued at $2,016,000 after buying an additional 144,011 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Real Brokerage during the fourth quarter valued at $177,000. Institutional investors own 53.28% of the company's stock.

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.

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