reAlpha Tech Corp. (NASDAQ:AIRE) Sees Large Increase in Short Interest

reAlpha Tech Corp. (NASDAQ:AIRE) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 8,469,399 shares, a growth of 60.4% from the December 15th total of 5,281,721 shares. Based on an average daily trading volume, of 11,022,963 shares, the days-to-cover ratio is presently 0.8 days. Currently, 10.7% of the shares of the stock are short sold. Currently, 10.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 11,022,963 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of reAlpha Tech in a research note on Tuesday, December 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.63.

Hedge Funds Weigh In On reAlpha Tech

An institutional investor recently bought a new position in reAlpha Tech stock. Scientech Research LLC purchased a new stake in reAlpha Tech Corp. (NASDAQ:AIRE) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 113,486 shares of the company’s stock, valued at approximately $87,000. Scientech Research LLC owned about 0.13% of reAlpha Tech as of its most recent SEC filing. Hedge funds and other institutional investors own 1.02% of the company’s stock.

reAlpha Tech Trading Down 3.2%

Shares of reAlpha Tech stock opened at $0.46 on Friday. reAlpha Tech has a 1 year low of $0.14 and a 1 year high of $2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.99 and a quick ratio of 3.99. The business has a 50 day moving average price of $0.48 and a 200 day moving average price of $0.52. The company has a market capitalization of $59.80 million, a P/E ratio of -2.18 and a beta of -3.58.

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

About reAlpha Tech

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.