reAlpha Tech Corp. (NASDAQ:AIRE) Sees Significant Decline in Short Interest

reAlpha Tech Corp. (NASDAQ:AIRE) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 3,534,009 shares, a drop of 17.4% from the February 26th total of 4,279,558 shares. Currently, 4.4% of the shares of the stock are short sold. Based on an average trading volume of 1,560,115 shares, the days-to-cover ratio is presently 2.3 days.

reAlpha Tech Price Performance

reAlpha Tech stock opened at $0.23 on Monday. The business’s 50-day simple moving average is $0.34 and its 200 day simple moving average is $0.51. The stock has a market cap of $30.51 million, a price-to-earnings ratio of -1.05 and a beta of -3.36. reAlpha Tech has a 12-month low of $0.14 and a 12-month high of $1.80. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 0.01.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. reAlpha Tech had a negative return on equity of 346.03% and a negative net margin of 389.38%.The firm had revenue of $0.89 million during the quarter, compared to analysts’ expectations of $0.94 million. As a group, research analysts anticipate that reAlpha Tech will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On reAlpha Tech

Several large investors have recently bought and sold shares of the business. Virtu Financial LLC lifted its holdings in reAlpha Tech by 56.1% in the fourth quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock valued at $74,000 after buying an additional 64,039 shares during the period. State Street Corp grew its holdings in reAlpha Tech by 49.9% during the 4th quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after acquiring an additional 80,800 shares during the period. Scientech Research LLC bought a new stake in shares of reAlpha Tech during the 3rd quarter valued at $87,000. Finally, Geode Capital Management LLC raised its position in shares of reAlpha Tech by 120.4% during the 4th quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after acquiring an additional 514,306 shares during the last quarter. 1.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIRE shares. HC Wainwright reiterated a “buy” rating and set a $2.00 target price on shares of reAlpha Tech in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of reAlpha Tech in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $1.63.

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.