Short Interest in The Real Brokerage Inc. (NASDAQ:REAX) Drops By 17.2%

The Real Brokerage Inc. (NASDAQ:REAX - Get Free Report) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 2,650,000 shares, a drop of 17.2% from the March 31st total of 3,200,000 shares. Based on an average trading volume of 886,100 shares, the short-interest ratio is currently 3.0 days. Currently, 2.6% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Real Brokerage

Several hedge funds have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. bought a new position in shares of Real Brokerage during the fourth quarter valued at approximately $3,574,000. JPMorgan Chase & Co. lifted its position in Real Brokerage by 607.9% during the third quarter. JPMorgan Chase & Co. now owns 631,916 shares of the company's stock valued at $3,507,000 after acquiring an additional 542,653 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Real Brokerage by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 759,100 shares of the company's stock valued at $3,492,000 after acquiring an additional 264,600 shares in the last quarter. Shay Capital LLC grew its holdings in Real Brokerage by 69.3% in the fourth quarter. Shay Capital LLC now owns 533,285 shares of the company's stock worth $2,453,000 after purchasing an additional 218,285 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Real Brokerage by 109.4% during the 4th quarter. Tudor Investment Corp ET AL now owns 330,712 shares of the company's stock valued at $1,521,000 after purchasing an additional 172,747 shares during the last quarter. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

Real Brokerage Stock Performance

Shares of NASDAQ:REAX traded up $0.28 on Wednesday, reaching $4.51. The company's stock had a trading volume of 627,242 shares, compared to its average volume of 887,082. The company has a market cap of $890.88 million, a P/E ratio of -25.03 and a beta of 1.12. Real Brokerage has a 52-week low of $3.55 and a 52-week high of $6.75. The company has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $4.85.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. The firm had revenue of $350.63 million during the quarter, compared to analyst estimates of $300.11 million. On average, equities research analysts forecast that Real Brokerage will post -0.1 EPS for the current fiscal year.

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.