reAlpha Tech (NASDAQ:AIRE) Issues Earnings Results

reAlpha Tech (NASDAQ:AIRE) announced its quarterly earnings data 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 business had revenue of $1.11 million during the quarter, compared to analyst estimates of $3.10 million.

reAlpha Tech Stock Up 7.9%

reAlpha Tech stock traded up $0.12 during mid-day trading on Friday, hitting $1.63. The company had a trading volume of 169,725 shares, compared to its average volume of 101,372. 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 stock’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $4.63. reAlpha Tech has a 12 month low of $1.25 and a 12 month high of $45.00. The company has a market capitalization of $8.74 million, a PE ratio of -0.34 and a beta of -2.69.

Analyst Ratings Changes

AIRE has been the subject of several research reports. Wall Street Zen upgraded shares of reAlpha Tech to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of reAlpha Tech in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Hedge Funds Weigh In On reAlpha Tech

Large investors have recently modified their holdings of the stock. Virtu Financial LLC increased its stake in reAlpha Tech by 484.4% during the 3rd 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. Scientech Research LLC bought a new position in shares of reAlpha Tech in the third quarter worth approximately $87,000. 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 during the last quarter. Finally, State Street Corp grew its holdings in shares of reAlpha Tech by 49.9% during the fourth quarter. State Street Corp now owns 242,650 shares of the company’s stock valued at $101,000 after buying an additional 80,800 shares during the last quarter. Hedge funds and other institutional investors own 1.02% of the company’s stock.

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.