reAlpha Tech (NASDAQ:AIRE) Shares Down 11.3% – Here’s Why

reAlpha Tech Corp. (NASDAQ:AIRE)’s stock price fell 11.3% during trading on Wednesday . The stock traded as low as $0.4282 and last traded at $0.45. 6,232,337 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 6,915,044 shares. The stock had previously closed at $0.5074.

Analysts Set New Price Targets

AIRE has been the subject of several analyst reports. HC Wainwright started coverage on reAlpha Tech in a report on Wednesday, November 26th. They issued a “buy” rating and a $2.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday. Finally, Wall Street Zen cut shares of reAlpha Tech to a “strong sell” rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $1.63.

reAlpha Tech Trading Down 11.3%

The business has a fifty day moving average price of $0.54 and a two-hundred day moving average price of $0.51. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $57.62 million, a PE ratio of -2.14 and a beta of -3.76.

reAlpha Tech (NASDAQ:AIRE) last posted its earnings results on Wednesday, November 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates 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. Analysts expect that reAlpha Tech Corp. will post -0.16 EPS for the current fiscal year.

Institutional Trading of reAlpha Tech

An institutional investor recently bought a new position in reAlpha Tech stock. Scientech Research LLC purchased a new position in shares of reAlpha Tech Corp. (NASDAQ:AIRE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.

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.