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

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

reAlpha Tech Stock Performance

reAlpha Tech stock traded up $0.00 during mid-day trading on Friday, reaching $0.30. 2,775,610 shares of the company’s stock were exchanged, compared to its average volume of 2,931,013. The business’s fifty day simple moving average is $0.37 and its 200 day simple moving average is $0.52. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.01. reAlpha Tech has a one year low of $0.14 and a one year high of $1.80. The firm has a market capitalization of $39.61 million, a PE ratio of -1.44 and a beta of -3.36.

Institutional Trading of reAlpha Tech

A number of large investors have recently added to or reduced their stakes in AIRE. Geode Capital Management LLC raised its position 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 buying an additional 514,306 shares during the period. State Street Corp lifted its holdings in shares of reAlpha Tech by 49.9% during the 4th 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. Virtu Financial LLC lifted its holdings in shares of reAlpha Tech by 56.1% during the 4th quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock valued at $74,000 after buying an additional 64,039 shares during the last quarter. Finally, Scientech Research LLC bought a new position in reAlpha Tech during the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

AIRE has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of reAlpha Tech in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.63.

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.