Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Grows By 164.9%

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 17,460,000 shares, a growth of 164.9% from the August 31st total of 6,590,000 shares. Based on an average daily volume of 33,090,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 72.0% of the shares of the stock are sold short. Currently, 72.0% of the shares of the stock are sold short. Based on an average daily volume of 33,090,000 shares, the days-to-cover ratio is presently 0.5 days.

reAlpha Tech Stock Up 0.0%

Shares of reAlpha Tech stock opened at $0.68 on Friday. reAlpha Tech has a one year low of $0.14 and a one year high of $4.49. The business’s 50 day simple moving average is $0.59 and its two-hundred day simple moving average is $0.58.

reAlpha Tech (NASDAQ:AIRE) last issued its earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). reAlpha Tech had a negative return on equity of 213.07% and a negative net margin of 988.62%.The firm had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.20 million. On average, research analysts predict that reAlpha Tech will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On reAlpha Tech

A hedge fund recently bought a new stake in reAlpha Tech stock. Two Sigma Investments LP acquired a new stake in shares of reAlpha Tech Corp. (NASDAQ:AIRE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,679 shares of the company’s stock, valued at approximately $77,000. Two Sigma Investments LP owned about 0.06% of reAlpha Tech at the end of the most recent quarter. 1.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of reAlpha Tech in a report on Saturday, September 27th. Maxim Group restated a “hold” rating on shares of reAlpha Tech in a research report on Monday, July 28th. Finally, Wall Street Zen lowered reAlpha Tech to a “strong sell” rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, reAlpha Tech currently has an average rating of “Reduce” and an average price target of $1.25.

About reAlpha Tech

reAlpha Tech Corp., a real estate technology company, commercializes artificial intelligence (AI)-powered technologies. The company operates in two segments, Platform Services and Rental Business. The company offers and develops AI-based products and services to customers in the real-estate industry.