reAlpha Tech (NASDAQ:AIRE) Shares Down 11.3% – Here’s Why

reAlpha Tech Corp. (NASDAQ:AIRE) shares were down 11.3% on Wednesday . The stock traded as low as $0.4282 and last traded at $0.45. Approximately 6,232,337 shares were traded during trading, a decline of 10% from the average daily volume of 6,915,044 shares. The stock had previously closed at $0.5074.

Analyst Ratings Changes

Several research firms recently commented on AIRE. HC Wainwright assumed coverage on reAlpha Tech in a report on Wednesday, November 26th. They set a “buy” rating and a $2.00 target price on the stock. Wall Street Zen lowered reAlpha Tech to a “strong sell” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of reAlpha Tech in a research note on Monday. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.63.

reAlpha Tech Price Performance

The stock’s 50 day moving average is $0.54 and its two-hundred day moving average is $0.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 3.99. The stock has a market capitalization of $57.62 million, a PE ratio of -2.14 and a beta of -3.76.

reAlpha Tech (NASDAQ:AIRE) last released its earnings results on Wednesday, November 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). reAlpha Tech had a negative net margin of 813.89% and a negative return on equity of 595.92%. The firm had revenue of $1.45 million during the quarter. On average, equities analysts anticipate that reAlpha Tech Corp. will post -0.16 EPS for the current fiscal year.

Institutional Trading of reAlpha Tech

An institutional investor recently raised its position in reAlpha Tech stock. Virtu Financial LLC lifted its stake in shares of reAlpha Tech Corp. (NASDAQ:AIRE) by 484.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,150 shares of the company’s stock after purchasing an additional 94,616 shares during the period. Virtu Financial LLC owned 0.13% of reAlpha Tech worth $88,000 as of its most recent SEC filing. Institutional investors own 1.02% of the company’s stock.

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.