reAlpha Tech Corp. (NASDAQ:AIRE) Sees Significant Decline in Short Interest

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 254,886 shares, a decrease of 94.6% from the April 15th total of 4,759,563 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily volume of 139,518 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Ratings Changes

Several brokerages recently issued reports on AIRE. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of reAlpha Tech in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of reAlpha Tech to a “sell” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.63.

reAlpha Tech Stock Performance

NASDAQ AIRE traded down $0.18 during trading hours on Tuesday, hitting $2.24. The company’s stock had a trading volume of 59,812 shares, compared to its average volume of 115,213. reAlpha Tech has a 12 month low of $2.10 and a 12 month high of $45.00. The company’s 50 day simple moving average is $6.41 and its two-hundred day simple moving average is $9.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.13 and a quick ratio of 2.13. The company has a market cap of $12.01 million, a P/E ratio of -0.47 and a beta of -2.97.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.25. reAlpha Tech had a negative net margin of 430.43% and a negative return on equity of 258.24%. The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $1.28 million. As a group, sell-side analysts expect that reAlpha Tech will post -2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On reAlpha Tech

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its position in shares of reAlpha Tech by 56.1% during the 4th quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock valued at $74,000 after purchasing an additional 64,039 shares during the period. Scientech Research LLC purchased a new position in reAlpha Tech during the 3rd quarter valued at approximately $87,000. State Street Corp lifted its position in reAlpha Tech by 49.9% during the fourth quarter. State Street Corp now owns 242,650 shares of the company’s stock valued at $101,000 after purchasing an additional 80,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of reAlpha Tech by 120.4% in the 4th quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after acquiring an additional 514,306 shares during the last quarter. 1.02% of the stock is owned by institutional investors.

reAlpha Tech Company Profile

reAlpha Tech (NASDAQ: AIRE) is a real estate technology company specializing in the acquisition, renovation, and management of single-family rental properties across the United States. The company leverages proprietary data analytics and machine-learning models to identify undervalued houses in high-potential neighborhoods. Once acquired, these properties undergo a standardized renovation process designed to maximize rental value and minimize maintenance expenses, after which they are added to reAlpha’s rental portfolio.

In addition to direct property ownership, reAlpha Tech offers a subscription-based investment platform that enables accredited and non-accredited investors to participate in fractional ownership of residential real estate assets.