reAlpha Tech (NASDAQ:AIRE) Stock Price Down 22.4% – Here’s What Happened

reAlpha Tech Corp. (NASDAQ:AIRE) was down 22.4% during mid-day trading on Friday . The stock traded as low as $0.73 and last traded at $0.77. Approximately 43,956,525 shares changed hands during trading, an increase of 14% from the average daily volume of 38,521,732 shares. The stock had previously closed at $0.99.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIRE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of reAlpha Tech in a research note on Wednesday, October 8th. Maxim Group reissued a “hold” rating on shares of reAlpha Tech in a research note on Monday, July 28th. Finally, Wall Street Zen lowered shares of reAlpha Tech to a “strong sell” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $1.25.

reAlpha Tech Stock Down 22.4%

The business’s fifty day moving average is $0.65 and its 200 day moving average is $0.53.

reAlpha Tech (NASDAQ:AIRE) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.20 million. reAlpha Tech had a negative return on equity of 213.07% and a negative net margin of 988.62%. On average, analysts expect that reAlpha Tech Corp. will post -0.16 earnings per share for the current fiscal year.

reAlpha Tech Company Profile

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.