Real Brokerage (NASDAQ:REAX) Stock Price Down 5.1% – Here’s What Happened

The Real Brokerage Inc. (NASDAQ:REAX) shares dropped 5.1% during mid-day trading on Friday . The stock traded as low as $3.67 and last traded at $3.6650. Approximately 179,203 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,310,906 shares. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

REAX has been the subject of several research analyst reports. Jones Trading restated a “buy” rating and issued a $5.00 target price on shares of Real Brokerage in a research note on Wednesday, November 5th. Wall Street Zen downgraded Real Brokerage from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. B. Riley reaffirmed a “buy” rating and set a $8.00 target price (up from $7.00) on shares of Real Brokerage in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Real Brokerage in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Real Brokerage Trading Down 4.3%

The firm has a market capitalization of $782.60 million, a P/E ratio of -92.38 and a beta of 0.97. The stock’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $4.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new stake in shares of Real Brokerage during the 3rd quarter valued at $25,000. Inscription Capital LLC bought a new stake in Real Brokerage in the third quarter worth about $44,000. Envestnet Asset Management Inc. purchased a new position in Real Brokerage in the second quarter valued at about $47,000. Thrivent Financial for Lutherans bought a new position in shares of Real Brokerage during the 2nd quarter valued at approximately $50,000. Finally, R Squared Ltd bought a new position in shares of Real Brokerage during the 3rd quarter valued at approximately $51,000. Hedge funds and other 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.