Real Brokerage (NASDAQ:REAX) Shares Up 11% – Here’s Why

The Real Brokerage Inc. (NASDAQ:REAX) shares shot up 11% on Wednesday . The company traded as high as $4.55 and last traded at $4.55. 143,395 shares were traded during trading, a decline of 84% from the average session volume of 900,863 shares. The stock had previously closed at $4.10.

Wall Street Analysts Forecast Growth

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

Real Brokerage Price Performance

The company has a market capitalization of $889.89 million, a PE ratio of -25.00 and a beta of 1.00. The business’s 50 day simple moving average is $5.00 and its 200 day simple moving average is $5.38.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new position in Real Brokerage in the 2nd quarter valued at about $52,000. Wolverine Trading LLC acquired a new stake in shares of Real Brokerage in the third quarter valued at $56,000. Paragon Advisors LLC acquired a new position in Real Brokerage during the 4th quarter worth $90,000. Intech Investment Management LLC purchased a new stake in Real Brokerage during the 3rd quarter worth about $98,000. Finally, Virtus Investment Advisers Inc. purchased a new position in Real Brokerage in the third quarter worth approximately $117,000. Institutional investors and hedge funds 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.