Real Brokerage (NASDAQ:REAX) Stock to Reverse Split on Tuesday, August 25th

The Real Brokerage Inc. (NASDAQ:REAX) shares are set to reverse split before the market opens on Tuesday, August 25th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 24th.

Real Brokerage Stock Performance

Shares of REAX traded down $0.11 during mid-day trading on Friday, reaching $2.64. The company had a trading volume of 7,428,665 shares, compared to its average volume of 5,452,564. The company has a market capitalization of $575.36 million, a price-to-earnings ratio of -37.71 and a beta of 0.78. The firm has a 50-day moving average price of $2.01 and a 200 day moving average price of $2.23. Real Brokerage has a 52 week low of $1.55 and a 52 week high of $5.41.

Real Brokerage (NASDAQ:REAX) last released its earnings results on Tuesday, June 30th. The company reported ($0.03) EPS for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%.The company had revenue of $700.58 million during the quarter. As a group, research analysts forecast that Real Brokerage will post -0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $4.25 target price on shares of Real Brokerage in a research report on Monday, April 27th. B. Riley Financial restated a “buy” rating on shares of Real Brokerage in a research note on Friday, May 8th. Edward Jones cut their price objective on Real Brokerage from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings upgraded Real Brokerage from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Zacks Research downgraded Real Brokerage from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.15.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new position in shares of Real Brokerage during the 2nd quarter worth $680,000. Private Client Services LLC raised its holdings in Real Brokerage by 61.0% in the 2nd quarter. Private Client Services LLC now owns 36,754 shares of the company’s stock worth $67,000 after purchasing an additional 13,926 shares during the period. Royal Bank of Canada raised its holdings in Real Brokerage by 126.1% in the 1st quarter. Royal Bank of Canada now owns 20,754 shares of the company’s stock worth $52,000 after purchasing an additional 11,573 shares during the period. State of Wyoming lifted its position in Real Brokerage by 5.8% during the first quarter. State of Wyoming now owns 125,939 shares of the company’s stock valued at $315,000 after purchasing an additional 6,950 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Real Brokerage during the first quarter valued at $29,000. 53.28% of the stock is currently owned by institutional investors.

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.