Real Brokerage (NASDAQ:REAX) Shares Gap Up After Strong Earnings

The Real Brokerage Inc. (NASDAQ:REAX)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $4.95, but opened at $5.12. Real Brokerage shares last traded at $5.17, with a volume of 310,818 shares.

The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $350.63 million during the quarter, compared to analyst estimates of $300.11 million. Real Brokerage had a negative net margin of 2.91% and a negative return on equity of 73.22%.

Wall Street Analyst Weigh In

Separately, BTIG Research assumed coverage on shares of Real Brokerage in a report on Wednesday, December 18th. They issued a “buy” rating and a $6.00 price target on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of REAX. Jane Street Group LLC boosted its position in Real Brokerage by 488.7% in the 3rd quarter. Jane Street Group LLC now owns 134,089 shares of the company’s stock worth $744,000 after purchasing an additional 111,312 shares in the last quarter. Barclays PLC boosted its holdings in Real Brokerage by 337.7% during the third quarter. Barclays PLC now owns 141,188 shares of the company’s stock worth $782,000 after buying an additional 108,928 shares in the last quarter. JPMorgan Chase & Co. grew 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 buying an additional 542,653 shares during the period. Franklin Resources Inc. purchased a new position in Real Brokerage in the third quarter valued at $138,000. Finally, Principal Financial Group Inc. raised its position in shares of Real Brokerage by 463.8% in the third quarter. Principal Financial Group Inc. now owns 72,467 shares of the company’s stock worth $402,000 after acquiring an additional 59,614 shares during the period. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

Real Brokerage Stock Down 4.4 %

The firm has a market cap of $935.38 million, a price-to-earnings ratio of -26.28 and a beta of 1.01. The business’s 50-day simple moving average is $4.86 and its two-hundred day simple moving average is $5.26.

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.