Real Brokerage (NASDAQ:REAX) Stock Price Up 8.1% – Here’s Why

The Real Brokerage Inc. (NASDAQ:REAX) rose 8.1% during mid-day trading on Friday . The company traded as high as $4.17 and last traded at $4.1950. Approximately 441,375 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,161,280 shares. The stock had previously closed at $3.88.

Wall Street Analysts Forecast Growth

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

Real Brokerage Stock Up 6.2%

The firm has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $4.18. The stock has a market capitalization of $872.62 million, a P/E ratio of -103.00 and a beta of 0.97.

Institutional Trading of Real Brokerage

Several large investors have recently bought and sold shares of REAX. XTX Topco Ltd raised its position in Real Brokerage by 424.9% in the second quarter. XTX Topco Ltd now owns 222,469 shares of the company’s stock valued at $1,003,000 after purchasing an additional 180,086 shares during the last quarter. Matauro LLC bought a new stake in shares of Real Brokerage during the third quarter worth about $1,131,000. Apella Capital LLC acquired a new position in shares of Real Brokerage in the second quarter valued at approximately $230,000. Cornerstone Investment Partners LLC bought a new position in Real Brokerage in the 2nd quarter valued at approximately $151,000. Finally, Fortitude Advisory Group L.L.C. raised its holdings in Real Brokerage by 30.0% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 105,695 shares of the company’s stock valued at $477,000 after buying an additional 24,380 shares during the last quarter. 53.28% of the stock is owned by institutional investors and hedge funds.

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.