The Real Brokerage Inc. (NASDAQ:REAX) Sees Large Increase in Short Interest

The Real Brokerage Inc. (NASDAQ:REAX) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 199,000 shares, an increase of 43.6% from the August 15th total of 138,600 shares. Based on an average daily trading volume, of 123,600 shares, the short-interest ratio is presently 1.6 days. Approximately 0.2% of the company’s shares are sold short.

Several institutional investors and hedge funds have recently modified their holdings of REAX. Creative Planning acquired a new position in shares of The Real Brokerage in the 2nd quarter valued at about $120,000. Black Swift Group LLC acquired a new position in shares of The Real Brokerage in the 2nd quarter valued at about $244,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of The Real Brokerage in the 2nd quarter valued at about $1,390,000. Finally, Credit Suisse AG acquired a new position in shares of The Real Brokerage in the 2nd quarter valued at about $595,000. Institutional investors own 64.53% of the company’s stock.

Separately, Roth Capital began coverage on The Real Brokerage in a report on Monday, August 9th. They set a “buy” rating and a $3.00 price objective on the stock.

Shares of REAX opened at $1.84 on Tuesday. The Real Brokerage has a fifty-two week low of $0.69 and a fifty-two week high of $2.88. The firm has a 50-day simple moving average of $2.52.

The Real Brokerage (NASDAQ:REAX) last issued its earnings results on Wednesday, August 11th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $14.02 million. Sell-side analysts forecast that The Real Brokerage will post -0.09 earnings per share for the current fiscal year.

The Real Brokerage Company Profile

The Real Brokerage Inc, together with its subsidiaries, operates as a technology-powered residential real estate brokerage company. The company provides its agents a mobile focused tech-platform to run their business, as well as for attracting business terms and wealth building opportunities. It operates through a network of approximately 1,895 agents.

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