reAlpha Tech Corp. (NASDAQ:AIRE) Sees Large Decline in Short Interest

reAlpha Tech Corp. (NASDAQ:AIRE) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 63,400 shares, a decline of 71.9% from the November 15th total of 225,700 shares. Based on an average daily volume of 67,800 shares, the short-interest ratio is presently 0.9 days. Currently, 0.6% of the company’s stock are sold short.

Institutional Trading of reAlpha Tech

A hedge fund recently bought a new stake in reAlpha Tech stock. Sequoia Financial Advisors LLC purchased a new position in shares of reAlpha Tech Corp. (NASDAQ:AIRE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,645 shares of the company’s stock, valued at approximately $32,000. Sequoia Financial Advisors LLC owned 0.08% of reAlpha Tech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

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

reAlpha Tech Stock Up 1.7 %

AIRE stock traded up $0.02 on Wednesday, hitting $1.19. 18,126 shares of the company’s stock were exchanged, compared to its average volume of 948,323. The firm has a 50 day moving average price of $1.11 and a two-hundred day moving average price of $1.19. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08. reAlpha Tech has a 12-month low of $0.53 and a 12-month high of $3.10.

reAlpha Tech (NASDAQ:AIRE) last released its earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). reAlpha Tech had a negative return on equity of 45.22% and a negative net margin of 2,035.17%. The company had revenue of $0.34 million during the quarter.

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.