The Real Brokerage Inc. (NASDAQ:REAX) Short Interest Up 26.8% in December

The Real Brokerage Inc. (NASDAQ:REAX) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,980,000 shares, an increase of 26.8% from the December 15th total of 2,350,000 shares. Based on an average daily volume of 783,100 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.0% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, BTIG Research initiated coverage on shares of Real Brokerage in a research note on Wednesday, December 18th. They issued a “buy” rating and a $6.00 price objective for the company.

Real Brokerage Price Performance

Shares of REAX stock traded up $0.12 during trading on Friday, reaching $4.54. The company had a trading volume of 863,298 shares, compared to its average volume of 768,448. The firm’s 50 day simple moving average is $4.90 and its two-hundred day simple moving average is $5.36. Real Brokerage has a one year low of $2.14 and a one year high of $6.75. The company has a market capitalization of $897.80 million, a PE ratio of -25.22 and a beta of 1.00.

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

Institutional Trading of Real Brokerage

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in Real Brokerage during the 2nd quarter valued at $1,091,000. Rhumbline Advisers bought a new position in shares of Real Brokerage during the 2nd quarter worth about $474,000. Renaissance Technologies LLC raised its position in shares of Real Brokerage by 25.3% during the second quarter. Renaissance Technologies LLC now owns 229,500 shares of the company’s stock valued at $932,000 after buying an additional 46,400 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Real Brokerage by 42.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 100,000 shares of the company’s stock valued at $406,000 after buying an additional 29,800 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Real Brokerage during the second quarter worth about $234,000. Institutional investors own 53.28% of the company’s stock.

Real Brokerage Company Profile

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.