reAlpha Tech (NASDAQ:AIRE) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

reAlpha Tech (NASDAQ:AIRE) posted its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02, Zacks reports. reAlpha Tech had a negative net margin of 813.89% and a negative return on equity of 595.92%. The firm had revenue of $0.89 million for the quarter, compared to the consensus estimate of $0.94 million.

reAlpha Tech Trading Up 2.1%

reAlpha Tech stock traded up $0.01 during mid-day trading on Friday, hitting $0.31. The company’s stock had a trading volume of 2,759,689 shares, compared to its average volume of 2,929,839. The stock’s fifty day moving average is $0.37 and its two-hundred day moving average is $0.52. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $40.14 million, a PE ratio of -1.46 and a beta of -3.36. reAlpha Tech has a 1 year low of $0.14 and a 1 year high of $1.80.

Hedge Funds Weigh In On reAlpha Tech

Large investors have recently modified their holdings of the business. Scientech Research LLC acquired a new stake in shares of reAlpha Tech during the 3rd quarter worth about $87,000. Virtu Financial LLC boosted its stake in reAlpha Tech by 484.4% during the third quarter. Virtu Financial LLC now owns 114,150 shares of the company’s stock worth $88,000 after buying an additional 94,616 shares during the period. State Street Corp increased its position 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 acquiring an additional 80,800 shares during the last quarter. Finally, Geode Capital Management LLC increased its position 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 acquiring an additional 514,306 shares during the last quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AIRE. HC Wainwright reissued 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 reiterated a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday, December 29th. 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 data from MarketBeat, reAlpha Tech has a consensus rating of “Hold” and a consensus price target of $1.63.

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.