Real Brokerage (NASDAQ:REAX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Real Brokerage (NASDAQ:REAXGet Rating) from a hold rating to a sell rating in a research note released on Friday, Zacks.com reports.

According to Zacks, “The Real Brokerage Inc. is a technology-powered real estate brokerage operating. It creates financial opportunities for agents through better commission splits, best-in-class technology, revenue sharing and equity incentives. The Real Brokerage Inc. is based in NEW YORK. “

NASDAQ REAX opened at $1.91 on Friday. The business’s fifty day moving average is $2.25 and its 200-day moving average is $2.70. Real Brokerage has a one year low of $1.50 and a one year high of $4.35.

Real Brokerage (NASDAQ:REAXGet Rating) last released its earnings results on Friday, March 18th. The company reported ($0.02) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.02). The company had revenue of $50.48 million during the quarter, compared to analysts’ expectations of $34.98 million. As a group, sell-side analysts forecast that Real Brokerage will post -0.07 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Real Brokerage by 657.2% during the third quarter. Royal Bank of Canada now owns 16,500 shares of the company’s stock valued at $31,000 after purchasing an additional 14,321 shares during the last quarter. LPL Financial LLC purchased a new position in Real Brokerage in the 4th quarter valued at approximately $66,000. Millennium Management LLC bought a new stake in Real Brokerage during the 4th quarter valued at $67,000. Marshall Wace LLP bought a new position in shares of Real Brokerage in the fourth quarter worth $73,000. Finally, Virtu Financial LLC purchased a new position in shares of Real Brokerage in the fourth quarter valued at $79,000.

About Real Brokerage (Get Rating)

The Real Brokerage Inc, together with its subsidiaries, operates as a technology-powered real estate brokerage company. It provides brokerage services for the real estate market through a network of agents. The company offers agents a mobile-focused tech platform to run its business, as well as business terms and wealth-building opportunities.

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