Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Drops By 12.8%

reAlpha Tech Corp. (NASDAQ:AIRE) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 4,279,558 shares, a drop of 12.8% from the February 12th total of 4,909,607 shares. Currently, 5.4% of the company’s stock are sold short. Based on an average trading volume of 1,140,984 shares, the short-interest ratio is presently 3.8 days. Based on an average trading volume of 1,140,984 shares, the short-interest ratio is presently 3.8 days. Currently, 5.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its position in reAlpha Tech by 56.1% in the fourth 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 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 acquiring an additional 80,800 shares during the period. Geode Capital Management LLC boosted 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 acquiring an additional 514,306 shares during the period. Finally, Scientech Research LLC bought a new position in shares of reAlpha Tech during the third quarter worth about $87,000. 1.02% of the stock is currently owned by institutional investors.

reAlpha Tech Trading Down 5.0%

NASDAQ AIRE opened at $0.32 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.70 and a current ratio of 2.70. reAlpha Tech has a one year low of $0.14 and a one year high of $1.80. The company has a 50-day simple moving average of $0.36 and a 200-day simple moving average of $0.52. The firm has a market capitalization of $42.55 million, a PE ratio of -1.47 and a beta of -3.36.

reAlpha Tech (NASDAQ:AIRE) last issued its earnings results on Thursday, March 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $0.94 million. On average, equities analysts forecast that reAlpha Tech will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AIRE shares. HC Wainwright reiterated a “buy” rating and issued a $2.00 price target on shares of reAlpha Tech in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of reAlpha Tech in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, reAlpha Tech has an average rating of “Hold” and a consensus target price 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.