reAlpha Tech (NASDAQ:AIRE) Stock Price Up 5.7% – Here’s What Happened

reAlpha Tech Corp. (NASDAQ:AIRE) shares shot up 5.7% during mid-day trading on Tuesday . The stock traded as high as $0.50 and last traded at $0.49. Approximately 325,242 shares traded hands during trading, a decline of 65% from the average daily volume of 922,789 shares. The stock had previously closed at $0.47.

Wall Street Analyst Weigh In

Separately, Maxim Group decreased their price target on reAlpha Tech from $3.00 to $1.25 and set a “buy” rating for the company in a research note on Wednesday, May 21st.

reAlpha Tech Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $0.65 and a 200 day moving average price of $1.24.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings results on Friday, May 16th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). reAlpha Tech had a negative net margin of 2,035.17% and a negative return on equity of 45.22%. The firm had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.67 million. On average, sell-side analysts forecast that reAlpha Tech Corp. will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On reAlpha Tech

A hedge fund recently bought a new stake in reAlpha Tech stock. Two Sigma Investments LP acquired a new stake in reAlpha Tech Corp. (NASDAQ:AIRE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,679 shares of the company’s stock, valued at approximately $77,000. Two Sigma Investments LP owned 0.06% of reAlpha Tech as of its most recent SEC filing. Institutional investors own 1.02% of the company’s stock.

About reAlpha Tech

reAlpha Tech Corp., a real estate technology company, commercializes artificial intelligence (AI)-powered technologies. The company operates in two segments, Platform Services and Rental Business. The company offers and develops AI-based products and services to customers in the real-estate industry.