reAlpha Tech (NASDAQ:AIRE) Shares Down 4.5% – What’s Next?

reAlpha Tech Corp. (NASDAQ:AIRE) shares were down 4.5% on Friday . The stock traded as low as $1.50 and last traded at $1.50. Approximately 41,082 shares were traded during trading, a decline of 84% from the average session volume of 251,065 shares. The stock had previously closed at $1.57.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of reAlpha Tech in a research note on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.00.

reAlpha Tech Trading Down 4.5%

The company has a market cap of $8.83 million, a P/E ratio of -0.45 and a beta of -2.64. The company has a 50 day moving average price of $1.59 and a 200-day moving average price of $3.82.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.18. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $3.10 million. reAlpha Tech had a negative return on equity of 198.91% and a negative net margin of 419.95%.

Institutional Investors Weigh In On reAlpha Tech

A number of hedge funds have recently made changes to their positions in AIRE. Virtu Financial LLC grew its holdings in shares of reAlpha Tech by 56.1% during the 4th quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock valued at $74,000 after purchasing an additional 64,039 shares during the last quarter. BlackRock Inc. bought a new position in reAlpha Tech in the 2nd quarter valued at approximately $78,000. Scientech Research LLC bought a new position in shares of reAlpha Tech during the third quarter valued at $87,000. State Street Corp lifted 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 buying an additional 80,800 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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 acquiring an additional 514,306 shares during the period. 1.02% of the stock is currently owned by institutional investors and hedge funds.

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.