Real Brokerage (NASDAQ:REAX) Upgraded at Wall Street Zen

Real Brokerage (NASDAQ:REAX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Friday.

Separately, B. Riley started coverage on Real Brokerage in a research note on Wednesday, June 25th. They set a "buy" rating and a $7.00 price target on the stock.

Real Brokerage Price Performance

Shares of REAX stock traded up $0.19 on Friday, hitting $4.34. The stock had a trading volume of 1,472,050 shares, compared to its average volume of 886,547. Real Brokerage has a 1 year low of $3.80 and a 1 year high of $6.75. The company's 50 day moving average price is $4.19 and its 200-day moving average price is $4.48.

Real Brokerage (NASDAQ:REAX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping 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 analysts' expectations of $332.92 million. On average, sell-side analysts anticipate that Real Brokerage will post -0.1 EPS for the current year.

Real Brokerage announced that its board has approved a stock repurchase plan on Friday, May 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in Real Brokerage by 694.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 92,781 shares of the company's stock worth $377,000 after acquiring an additional 81,107 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Real Brokerage by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company's stock worth $49,000 after purchasing an additional 6,000 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Real Brokerage during the first quarter worth $37,000. Rhumbline Advisers raised its holdings in Real Brokerage by 20.7% during the first quarter. Rhumbline Advisers now owns 150,008 shares of the company's stock worth $609,000 after purchasing an additional 25,684 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Real Brokerage by 55.6% during the fourth quarter. ProShare Advisors LLC now owns 28,300 shares of the company's stock worth $130,000 after purchasing an additional 10,108 shares during the last quarter. Hedge funds and other institutional investors own 53.28% of the company's stock.

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.