Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Drops By 94.6%

reAlpha Tech Corp. (NASDAQ:AIRE) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 254,886 shares, a drop of 94.6% from the April 15th total of 4,759,563 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average daily volume of 139,518 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Several research firms have commented on AIRE. Wall Street Zen upgraded reAlpha Tech to a “sell” rating in a report on Saturday, May 2nd. HC Wainwright restated a “buy” rating and set a $50.00 price objective on shares of reAlpha Tech in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of reAlpha Tech by 120.4% in the 4th 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. State Street Corp increased its holdings in shares of reAlpha Tech by 49.9% in the 4th 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. Virtu Financial LLC increased its holdings 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 valued at $74,000 after acquiring an additional 64,039 shares during the period. Finally, Scientech Research LLC purchased a new position in shares of reAlpha Tech in the 3rd quarter valued at $87,000. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

reAlpha Tech Trading Up 9.0%

AIRE traded up $0.20 during trading on Monday, hitting $2.42. 364,893 shares of the stock were exchanged, compared to its average volume of 157,227. The firm has a 50 day simple moving average of $6.41 and a 200 day simple moving average of $9.83. The firm has a market cap of $12.97 million, a price-to-earnings ratio of -0.51 and a beta of -2.97. reAlpha Tech has a 1 year low of $2.10 and a 1 year high of $45.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.13 and a current ratio of 2.13.

reAlpha Tech (NASDAQ:AIRE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.25. reAlpha Tech had a negative return on equity of 258.24% and a negative net margin of 430.43%.The business had revenue of $0.84 million for the quarter, compared to the consensus estimate of $1.28 million. As a group, equities analysts expect that reAlpha Tech will post -2.75 EPS for the current year.

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.