Real Brokerage (NASDAQ:REAX) Coverage Initiated at B. Riley

Research analysts at B. Riley assumed coverage on shares of Real Brokerage (NASDAQ:REAX) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $7.00 price target on the stock. B. Riley’s target price indicates a potential upside of 59.09% from the stock’s current price.

Separately, Jones Trading restated a “buy” rating and issued a $6.00 target price on shares of Real Brokerage in a report on Thursday, March 6th.

Real Brokerage Price Performance

Shares of NASDAQ REAX opened at $4.40 on Wednesday. Real Brokerage has a 12 month low of $3.75 and a 12 month high of $6.75. The company has a 50-day simple moving average of $4.27 and a 200-day simple moving average of $4.56. The company has a market cap of $870.10 million, a PE ratio of -62.86 and a beta of 1.04.

Real Brokerage (NASDAQ:REAX) last released its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Real Brokerage had a negative net margin of 1.09% and a negative return on equity of 49.13%. The firm had revenue of $353.98 million during the quarter, compared to the consensus estimate of $332.92 million. On average, analysts anticipate that Real Brokerage will post -0.1 EPS for the current year.

Real Brokerage declared that its Board of Directors has authorized a share repurchase plan on Friday, May 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 17.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aquatic Capital Management LLC acquired a new position in Real Brokerage during the fourth quarter valued at approximately $25,000. New York State Teachers Retirement System acquired a new position in Real Brokerage during the first quarter valued at approximately $37,000. Oxford Asset Management LLP acquired a new position in Real Brokerage during the fourth quarter valued at approximately $49,000. Corton Capital Inc. acquired a new position in Real Brokerage during the fourth quarter valued at approximately $51,000. Finally, Diversified Trust Co acquired a new position in Real Brokerage during the first quarter valued at approximately $47,000. 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.