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

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

Hedge Funds Weigh In On reAlpha Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIRE. Virtu Financial LLC raised its stake in 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 period. State Street Corp boosted its position in shares of reAlpha Tech by 49.9% in the fourth 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. Scientech Research LLC purchased a new position in shares of reAlpha Tech during the third quarter valued at $87,000. Finally, Geode Capital Management LLC grew its holdings in shares of reAlpha Tech by 120.4% during the fourth quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after buying an additional 514,306 shares in the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AIRE. Weiss Ratings reissued a “sell (e+)” rating on shares of reAlpha Tech in a report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $2.00 target price on shares of reAlpha Tech in a report on Monday, February 23rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, reAlpha Tech presently has a consensus rating of “Hold” and a consensus target price of $1.63.

reAlpha Tech Trading Up 5.5%

Shares of NASDAQ AIRE opened at $0.24 on Wednesday. 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 has a 12 month low of $0.14 and a 12 month high of $1.80. The company has a market cap of $32.03 million, a price-to-earnings ratio of -1.10 and a beta of -3.36. The business has a fifty day simple moving average of $0.33 and a 200-day simple moving average of $0.49.

reAlpha Tech (NASDAQ:AIRE) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $0.94 million. Sell-side analysts predict that reAlpha Tech will post -0.16 EPS for the current 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.