Shares of Real Brokerage Inc. (NASDAQ:REAX) experienced a significant decline of 6.2% on Friday, falling to a low of $3.59 before closing at $3.64. This marked a stark contrast from the previous day’s close of $3.88. During the trading session, approximately 387,326 shares exchanged hands, a substantial decrease of 71% compared to the average daily volume of 1,329,166 shares.
Analysts have recently updated their outlook on Real Brokerage, contributing to the stock’s volatility. On October 31, 2023, B. Riley reiterated a “buy” rating and raised its price target for the stock to $8.00, up from a previous target of $7.00. Conversely, Weiss Ratings issued a “sell (d-)” rating on October 8, 2023, indicating concerns about the company’s performance. In addition, Jones Trading maintained a “buy” rating with a price target of $5.00 on November 5, 2023, while Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on October 18, 2023.
Currently, two equities research analysts rate Real Brokerage as a “buy,” while one has issued a “sell” rating. According to data from MarketBeat.com, the stock holds a consensus rating of “hold” with an average price target of $6.50.
Institutional Investment Trends
Recent trading activity among institutional investors has also influenced Real Brokerage’s stock dynamics. CIBC Bancorp USA Inc. entered a new position in the company during the third quarter, investing approximately $47,000. Meanwhile, Jacobs Levy Equity Management Inc. increased its stake by 27%, owning 1,298,020 shares valued at $5,426,000 after acquiring an additional 276,165 shares in the last quarter.
Additionally, PharVision Advisers LLC acquired a new stake in Real Brokerage worth $249,000. XTX Topco Ltd boosted its holdings by 48.3%, now owning 329,844 shares valued at $1,379,000. Voleon Capital Management LP also made a new investment in the company, valued at $1,031,000.
Currently, institutional investors hold 53.28% of Real Brokerage’s shares, reflecting a significant interest in the company’s potential.
Real Brokerage, headquartered in Toronto, Canada, operates as a cloud-based residential real estate brokerage with a presence in both the United States and Canada. The company offers a comprehensive suite of digital tools designed to enhance the efficiency of real estate transactions, from lead generation to closing. Through its proprietary technology, Real Brokerage equips agents with vital resources such as transaction management, customer relationship management, digital marketing automation, and real-time analytics.
In conclusion, while the recent downturn in Real Brokerage’s stock price raises questions among investors, the mixed ratings from analysts and the involvement of institutional investors suggest a complex landscape for the company moving forward. As the market continues to react, stakeholders will be closely monitoring these developments.
