reAlpha Tech (NASDAQ:AIRE) Shares Down 4.3% – Here’s What Happened

reAlpha Tech Corp. (NASDAQ:AIRE) shares dropped 4.3% during mid-day trading on Monday . The stock traded as low as $1.33 and last traded at $1.33. 31,699 shares traded hands during trading, a decline of 40% from the average session volume of 52,559 shares. The stock had previously closed at $1.39.

Wall Street Analysts Forecast Growth

AIRE has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of reAlpha Tech to a “sell” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of reAlpha Tech in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, reAlpha Tech presently has a consensus rating of “Hold” and an average price target of $50.00.

reAlpha Tech Trading Down 8.0%

The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $6.81 million, a PE ratio of -0.27 and a beta of -2.81. The stock has a 50 day moving average price of $2.05 and a 200-day moving average price of $5.82.

reAlpha Tech (NASDAQ:AIRE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.75) 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 company had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $1.28 million.

Hedge Funds Weigh In On reAlpha Tech

Several institutional investors have recently made changes to their positions in AIRE. Geode Capital Management LLC boosted its holdings in shares of reAlpha Tech by 120.4% in the fourth quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock worth $393,000 after buying an additional 514,306 shares during the last quarter. State Street Corp increased its holdings in 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 buying an additional 80,800 shares during the last quarter. Virtu Financial LLC increased its holdings in reAlpha Tech by 56.1% during the fourth 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 in the third quarter worth approximately $87,000. Institutional investors 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.