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

The Real Brokerage Inc. (NASDAQ:REAX)’s share price 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.

Wall Street Analysts Forecast Growth

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

Real Brokerage Stock Down 1.5 %

The firm’s fifty day moving average price is $5.23 and its 200 day moving average price is $5.32. The stock has a market cap of $939.33 million, a PE ratio of -26.39 and a beta of 0.95.

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

Institutional Trading of Real Brokerage

A number of large investors have recently added to or reduced their stakes in REAX. National Bank of Canada FI boosted 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 acquiring an additional 3,975 shares during the last quarter. Principal Financial Group Inc. bought a new position in Real Brokerage during the second quarter valued at $52,000. Wolverine Trading LLC purchased a new position in shares of Real Brokerage in the 3rd quarter worth $56,000. Intech Investment Management LLC purchased a new stake in shares of Real Brokerage during the 3rd quarter valued at about $98,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Real Brokerage during the 3rd quarter valued at about $117,000. 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.