Real Brokerage (NASDAQ:REAX) Shares Gap Down – Here’s What Happened

Shares of The Real Brokerage Inc. (NASDAQ:REAX) gapped down prior to trading on Tuesday . The stock had previously closed at $5.43, but opened at $5.26. Real Brokerage shares last traded at $5.20, with a volume of 109,646 shares trading hands.

Real Brokerage Stock Down 2.6 %

The firm has a fifty day simple moving average of $5.40 and a 200-day simple moving average of $5.29.

Real Brokerage (NASDAQ:REAX) last released its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $372.49 million during the quarter, compared to the consensus estimate of $334.61 million. Real Brokerage had a negative net margin of 2.91% and a negative return on equity of 73.22%. During the same quarter last year, the firm earned ($0.02) earnings per share. On average, sell-side analysts predict that The Real Brokerage Inc. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Real Brokerage

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its position in shares of Real Brokerage by 311.5% in the second quarter. Harbor Capital Advisors Inc. now owns 288,039 shares of the company’s stock valued at $1,169,000 after purchasing an additional 218,034 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Real Brokerage during the second quarter worth approximately $1,091,000. Principal Financial Group Inc. acquired a new position in shares of Real Brokerage in the second quarter valued at approximately $52,000. Valmark Advisers Inc. increased its stake in shares of Real Brokerage by 117.0% during the second quarter. Valmark Advisers Inc. now owns 49,324 shares of the company’s stock worth $200,000 after purchasing an additional 26,596 shares during the period. Finally, Rhumbline Advisers acquired a new stake in Real Brokerage during the 2nd quarter worth approximately $474,000. 53.28% of the stock is owned by institutional investors and hedge funds.

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.