Real Brokerage (NASDAQ:REAX) Shares Gap Up – Here’s What Happened

The Real Brokerage Inc. (NASDAQ:REAX) gapped up prior to trading on Friday . The stock had previously closed at $4.82, but opened at $4.92. Real Brokerage shares last traded at $4.80, with a volume of 89,765 shares changing hands.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on Real Brokerage in a research note on Wednesday, December 18th. They set a “buy” rating and a $6.00 price objective on the stock.

Real Brokerage Stock Performance

The firm has a market capitalization of $935.38 million, a price-to-earnings ratio of -26.28 and a beta of 0.95. The stock’s fifty day moving average is $5.23 and its two-hundred day moving average is $5.33.

Real Brokerage (NASDAQ:REAX) last announced its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $372.49 million for the quarter, compared to analyst estimates of $334.61 million. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. During the same period in the previous year, the company earned ($0.02) earnings per share. Sell-side analysts anticipate that The Real Brokerage Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Real Brokerage

Several institutional investors and hedge funds have recently made changes to their positions in REAX. Bank of New York Mellon Corp bought a new stake in shares of Real Brokerage in the 2nd quarter worth about $1,091,000. Principal Financial Group Inc. bought a new stake in shares of Real Brokerage in the 2nd quarter valued at approximately $52,000. Valmark Advisers Inc. raised its holdings in shares of Real Brokerage by 117.0% during the second quarter. Valmark Advisers Inc. now owns 49,324 shares of the company’s stock worth $200,000 after purchasing an additional 26,596 shares during the period. Rhumbline Advisers acquired a new position in shares of Real Brokerage in the 2nd quarter valued at about $474,000. Finally, National Bank of Canada FI grew its position in shares of Real Brokerage by 198.8% during the 2nd quarter. National Bank of Canada FI now owns 5,975 shares of the company’s stock valued at $26,000 after buying an additional 3,975 shares during the last quarter. 53.28% of the stock is currently 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.