Real Brokerage (NASDAQ:REAX) Shares Down 6.2% – What’s Next?

The Real Brokerage Inc. (NASDAQ:REAX)’s share price 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 changed hands during trading, a decline of 71% from the average daily volume of 1,329,166 shares. The stock had previously closed at $3.88.

Analyst Ratings Changes

A number of research firms recently weighed in on REAX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Real Brokerage in a research report on Wednesday, October 8th. Jones Trading reaffirmed a “buy” rating and issued a $5.00 target price on shares of Real Brokerage in a report on Wednesday, November 5th. B. Riley reiterated a “buy” rating and set a $8.00 price target (up from $7.00) on shares of Real Brokerage in a research note on Friday, October 31st. Finally, Wall Street Zen cut shares of Real Brokerage from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.50.

Real Brokerage Trading Down 4.9%

The stock’s 50 day moving average price is $3.85 and its two-hundred day moving average price is $4.21. The firm has a market capitalization of $781.54 million, a price-to-earnings ratio of -92.25 and a beta of 0.96.

Institutional Investors Weigh In On Real Brokerage

Several institutional investors have recently modified their holdings of REAX. Farther Finance Advisors LLC purchased a new position in Real Brokerage in the 3rd quarter valued at approximately $25,000. Lido Advisors LLC acquired a new stake in Real Brokerage in the third quarter valued at $42,000. Envestnet Asset Management Inc. purchased a new position in shares of Real Brokerage in the second quarter valued at $47,000. Inscription Capital LLC acquired a new position in shares of Real Brokerage during the 3rd quarter worth $44,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Real Brokerage in the 2nd quarter worth about $50,000. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Real Brokerage Company Profile

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.