reAlpha Tech (NASDAQ:AIRE) Posts Earnings Results, Beats Expectations By $0.18 EPS

reAlpha Tech (NASDAQ:AIRE) released its earnings results on Friday. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.18, FiscalAI reports. reAlpha Tech had a negative return on equity of 258.24% and a negative net margin of 430.43%.The firm had revenue of $1.11 million during the quarter, compared to analyst estimates of $3.10 million.

reAlpha Tech Stock Up 7.9%

Shares of NASDAQ:AIRE traded up $0.12 during midday trading on Friday, hitting $1.63. 169,725 shares of the company’s stock traded hands, compared to its average volume of 59,218. reAlpha Tech has a twelve month low of $1.25 and a twelve month high of $45.00. The company has a market cap of $8.74 million, a PE ratio of -0.34 and a beta of -2.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.13 and a current ratio of 2.13. The firm’s fifty day moving average price is $1.75 and its two-hundred day moving average price is $4.61.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of reAlpha Tech in a report on Tuesday, July 14th. Wall Street Zen raised shares of reAlpha Tech to a “sell” rating in a research report on Saturday, May 2nd. One research 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 company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Institutional Investors Weigh In On reAlpha Tech

Several institutional investors and hedge funds have recently modified their holdings of AIRE. Virtu Financial LLC raised 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 buying an additional 64,039 shares during the period. State Street Corp boosted its holdings in reAlpha Tech by 49.9% in 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 acquired a new stake in reAlpha Tech in the third quarter valued at approximately $87,000. Finally, Geode Capital Management LLC grew its position in reAlpha Tech by 120.4% in the fourth 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 in the last quarter. Hedge funds and other 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.