reAlpha Tech (NASDAQ:AIRE) Shares Down 4.3% – Here’s What Happened

reAlpha Tech Corp. (NASDAQ:AIRE)’s stock price traded down 4.3% on Monday . The stock traded as low as $1.33 and last traded at $1.33. Approximately 31,699 shares were traded during trading, a decline of 40% from the average session volume of 52,559 shares. The stock had previously closed at $1.39.

Analysts Set New Price Targets

Several research firms have commented on AIRE. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of reAlpha Tech in a research note on Tuesday, July 14th. Wall Street Zen raised shares of reAlpha Tech to a “sell” rating in a research note on Saturday, May 2nd. One investment 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. According to MarketBeat, reAlpha Tech currently has a consensus rating of “Hold” and a consensus target price of $50.00.

reAlpha Tech Stock Down 4.3%

The company has a 50-day simple moving average of $2.07 and a 200-day simple moving average of $5.88. The firm has a market cap of $7.13 million, a PE ratio of -0.28 and a beta of -2.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.13 and a quick ratio of 2.13.

reAlpha Tech (NASDAQ:AIRE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.25. reAlpha Tech had a negative return on equity of 258.24% and a negative net margin of 430.43%.The firm had revenue of $0.84 million for the quarter, compared to the consensus estimate of $1.28 million.

Hedge Funds Weigh In On reAlpha Tech

Hedge funds have recently bought and sold shares of the business. Virtu Financial LLC lifted its position in shares of reAlpha Tech by 56.1% during the fourth quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock worth $74,000 after purchasing an additional 64,039 shares during the last quarter. State Street Corp boosted its stake in shares of 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 period. Scientech Research LLC bought a new position in shares of reAlpha Tech in the third quarter worth about $87,000. Finally, Geode Capital Management LLC grew its holdings in shares of reAlpha Tech by 120.4% in the fourth quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock worth $393,000 after purchasing an additional 514,306 shares during the last quarter. 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.