Real Brokerage (NASDAQ:REAX) Stock Price Down 4.1% – What’s Next?

The Real Brokerage Inc. (NASDAQ:REAX) shares were down 4.1% during mid-day trading on Tuesday . The company traded as low as $4.59 and last traded at $4.62. Approximately 553,590 shares changed hands during trading, a decline of 29% from the average daily volume of 777,813 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

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

Real Brokerage Stock Down 4.6 %

The company has a fifty day moving average price of $5.22 and a 200-day moving average price of $5.34. The stock has a market capitalization of $909.67 million, a P/E ratio of -25.55 and a beta of 0.95.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data 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 the consensus estimate 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 quarter in the previous year, the company posted ($0.02) EPS. As a group, research analysts expect that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Real Brokerage

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of Real Brokerage by 607.9% during the 3rd 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 in the last quarter. State Street Corp raised its position in Real Brokerage by 48.0% during the third quarter. State Street Corp now owns 1,364,358 shares of the company’s stock valued at $7,572,000 after purchasing an additional 442,612 shares during the period. Harbor Capital Advisors Inc. raised its position in Real Brokerage by 106.6% during the third quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company’s stock valued at $3,303,000 after purchasing an additional 307,016 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Real Brokerage in the 2nd quarter valued at approximately $1,091,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Real Brokerage during the 3rd quarter valued at approximately $871,000. Institutional investors own 53.28% of the company’s stock.

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.