Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Declines By 17.4%

reAlpha Tech Corp. (NASDAQ:AIRE) saw a large 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. Based on an average daily volume of 1,560,115 shares, the days-to-cover ratio is presently 2.3 days. Currently, 4.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $2.00 target price on shares of reAlpha Tech in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of reAlpha Tech in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $1.63.

Institutional Trading of reAlpha Tech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIRE. State Street Corp raised its position in 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 purchasing an additional 80,800 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 514,306 shares in the last quarter. Virtu Financial LLC boosted its holdings in reAlpha Tech by 484.4% during the third quarter. Virtu Financial LLC now owns 114,150 shares of the company’s stock valued at $88,000 after purchasing an additional 94,616 shares in the last quarter. Finally, Scientech Research LLC bought a new stake in shares of reAlpha Tech in the 3rd quarter valued at approximately $87,000. Institutional investors own 1.02% of the company’s stock.

reAlpha Tech Stock Down 0.5%

Shares of AIRE stock opened at $0.23 on Tuesday. reAlpha Tech has a one year low of $0.14 and a one year high of $1.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.70 and a quick ratio of 2.70. The stock has a fifty day moving average price of $0.33 and a 200 day moving average price of $0.50. The stock has a market cap of $30.37 million, a P/E ratio of -1.05 and a beta of -3.35.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. reAlpha Tech had a negative net margin of 389.38% and a negative return on equity of 346.03%. The firm had revenue of $0.89 million for the quarter, compared to analyst estimates of $0.94 million. Analysts predict that reAlpha Tech will post -0.16 earnings per share for the current year.

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.