Real Brokerage (NASDAQ:REAX) Shares Down 6.2% – Time to Sell?
by Teresa Graham · The Cerbat GemThe Real Brokerage Inc. (NASDAQ:REAX – Get Free Report) dropped 6.2% during trading on Friday . The stock traded as low as $3.59 and last traded at $3.64. Approximately 387,326 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,329,166 shares. The stock had previously closed at $3.88.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on REAX shares. B. Riley reiterated a “buy” rating and issued a $8.00 price objective (up from $7.00) on shares of Real Brokerage in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Real Brokerage in a research report on Wednesday, October 8th. Jones Trading restated a “buy” rating and issued a $5.00 price objective on shares of Real Brokerage in a report on Wednesday, November 5th. Finally, Wall Street Zen lowered Real Brokerage from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.
Check Out Our Latest Research Report on Real Brokerage
Real Brokerage Stock Down 5.3%
The business has a fifty day moving average of $3.85 and a 200 day moving average of $4.21. The firm has a market cap of $778.37 million, a P/E ratio of -92.13 and a beta of 0.96.
Institutional Investors Weigh In On Real Brokerage
Several hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in shares of Real Brokerage in the third quarter valued at $25,000. Lido Advisors LLC bought a new position in Real Brokerage in the 3rd quarter valued at about $42,000. Envestnet Asset Management Inc. acquired a new stake in Real Brokerage during the second quarter worth approximately $47,000. Inscription Capital LLC acquired a new stake in Real Brokerage during the third quarter worth approximately $44,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Real Brokerage in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 53.28% of the company’s stock.
About Real Brokerage
Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.
Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.