reAlpha Tech Corp. (NASDAQ:AIRE) Sees Significant Drop in Short Interest

reAlpha Tech Corp. (NASDAQ:AIRE) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 155,900 shares, a decline of 36.8% from the October 15th total of 246,600 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 63,400 shares, the days-to-cover ratio is presently 2.5 days.

reAlpha Tech Trading Down 3.0 %

Shares of NASDAQ AIRE opened at $0.98 on Friday. The company has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.19. reAlpha Tech has a 1 year low of $0.53 and a 1 year high of $15.90.

reAlpha Tech (NASDAQ:AIRE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). reAlpha Tech had a negative net margin of 2,035.17% and a negative return on equity of 46.83%. The business had revenue of $0.34 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in reAlpha Tech stock. Sequoia Financial Advisors LLC acquired a new position in shares of reAlpha Tech Corp. (NASDAQ:AIRE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 33,645 shares of the company’s stock, valued at approximately $32,000. Sequoia Financial Advisors LLC owned about 0.08% of reAlpha Tech at the end of the most recent reporting period. Institutional investors and hedge funds own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Maxim Group assumed coverage on shares of reAlpha Tech in a report on Friday, October 25th. They set a “buy” rating and a $3.00 price target for the company.

reAlpha Tech Company Profile

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.