Short Interest in The Real Brokerage Inc. (NASDAQ:REAX) Drops By 16.8%

The Real Brokerage Inc. (NASDAQ:REAX) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,630,000 shares, a drop of 16.8% from the October 31st total of 3,160,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 691,800 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On Real Brokerage

Institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI raised its holdings in shares of Real Brokerage by 198.8% during the 2nd quarter. National Bank of Canada FI now owns 5,975 shares of the company’s stock valued at $26,000 after buying an additional 3,975 shares in the last quarter. Wolverine Trading LLC bought a new position in Real Brokerage during the third quarter valued at approximately $56,000. Principal Financial Group Inc. purchased a new position in shares of Real Brokerage during the second quarter worth approximately $52,000. Geode Capital Management LLC lifted its holdings in shares of Real Brokerage by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,224,183 shares of the company’s stock worth $6,794,000 after acquiring an additional 14,045 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Real Brokerage in the 3rd quarter valued at $98,000. Institutional investors own 53.28% of the company’s stock.

Real Brokerage Stock Performance

Shares of NASDAQ REAX opened at $5.26 on Friday. Real Brokerage has a 52 week low of $1.28 and a 52 week high of $6.75. The stock has a market capitalization of $1.04 billion, a P/E ratio of -29.22 and a beta of 1.02. The stock’s fifty day moving average is $5.41 and its 200 day moving average is $5.28.

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

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.