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

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of 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. Based on an average trading volume of 139,518 shares, the days-to-cover ratio is presently 1.8 days. Currently, 7.9% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AIRE. Wall Street Zen raised reAlpha Tech to a “sell” rating in a research report on Saturday, May 2nd. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of reAlpha Tech in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.63.

reAlpha Tech Stock Up 9.0%

Shares of reAlpha Tech stock traded up $0.20 during trading on Monday, reaching $2.42. The company’s stock had a trading volume of 364,893 shares, compared to its average volume of 157,227. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.01. The company 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 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $9.83.

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

Institutional Trading of reAlpha Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in reAlpha Tech by 484.4% during the 3rd quarter. Virtu Financial LLC now owns 114,150 shares of the company’s stock worth $88,000 after acquiring an additional 94,616 shares during the period. Geode Capital Management LLC lifted its position in reAlpha Tech by 120.4% during the 4th quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock worth $393,000 after acquiring an additional 514,306 shares during the period. State Street Corp lifted its position in reAlpha Tech by 49.9% during the 4th quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after acquiring an additional 80,800 shares during the period. Finally, Scientech Research LLC acquired a new stake in reAlpha Tech during the 3rd quarter worth about $87,000. Institutional investors and hedge funds 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.