Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Declines By 29.3%

reAlpha Tech Corp. (NASDAQ:AIRE) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 5,281,721 shares, a drop of 29.3% from the November 30th total of 7,474,835 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average daily trading volume, of 2,774,722 shares, the short-interest ratio is currently 1.9 days. Based on an average daily trading volume, of 2,774,722 shares, the short-interest ratio is currently 1.9 days. Currently, 6.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

AIRE has been the subject of several research analyst reports. Wall Street Zen downgraded shares of reAlpha Tech to a “strong sell” rating in a research note on Saturday, September 13th. HC Wainwright reissued a “buy” rating and issued a $2.00 target price on shares of reAlpha Tech in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, reAlpha Tech presently has an average rating of “Hold” and a consensus target price of $1.63.

reAlpha Tech Stock Up 3.1%

AIRE opened at $0.43 on Wednesday. reAlpha Tech has a 52 week low of $0.14 and a 52 week high of $2.89. The business has a 50 day moving average price of $0.53 and a two-hundred day moving average price of $0.51. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.01. The company has a market cap of $55.96 million, a PE ratio of -2.04 and a beta of -3.74.

reAlpha Tech (NASDAQ:AIRE) last announced its earnings results on Wednesday, November 12th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). reAlpha Tech had a negative net margin of 813.89% and a negative return on equity of 595.92%. The company had revenue of $1.45 million during the quarter. As a group, research analysts anticipate that reAlpha Tech will post -0.16 EPS for the current year.

Hedge Funds Weigh In On reAlpha Tech

An institutional investor recently bought a new position in reAlpha Tech stock. Scientech Research LLC bought a new stake in reAlpha Tech Corp. (NASDAQ:AIRE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 113,486 shares of the company’s stock, valued at approximately $87,000. Scientech Research LLC owned approximately 0.13% of reAlpha Tech as of its most recent SEC filing. 1.02% of the stock is owned by hedge funds and other institutional investors.

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.