reAlpha Tech (NASDAQ:AIRE) Shares Up 11.5% – Still a Buy?

reAlpha Tech Corp. (NASDAQ:AIRE)’s stock price rose 11.5% on Friday . The company traded as high as $2.08 and last traded at $2.03. Approximately 90,597 shares changed hands during mid-day trading, an increase of 21% from the average daily volume of 74,692 shares. The stock had previously closed at $1.82.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.00.

reAlpha Tech Stock Performance

The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.01. The company has a market cap of $10.88 million, a PE ratio of -0.43 and a beta of -2.99. The business has a fifty day moving average of $3.11 and a 200-day moving average of $7.04.

reAlpha Tech (NASDAQ:AIRE) last released its quarterly earnings results on Tuesday, April 28th. The company reported ($0.75) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.25. reAlpha Tech had a negative net margin of 430.43% and a negative return on equity of 258.24%. The business had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $1.28 million.

Institutional Investors Weigh In On reAlpha Tech

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC grew its position in shares of reAlpha Tech by 56.1% in the 4th quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock worth $74,000 after buying an additional 64,039 shares during the period. State Street Corp boosted its stake in reAlpha Tech by 49.9% during the fourth quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after acquiring an additional 80,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 514,306 shares during the period. Finally, Scientech Research LLC purchased a new stake in reAlpha Tech in the third quarter worth about $87,000. 1.02% of the stock is currently owned by institutional investors.

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.