Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Drops By 36.8%

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of a significant decline in short interest in the month of 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. Based on an average trading volume of 63,400 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.5% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Institutional Trading of reAlpha Tech

A hedge fund recently bought a new stake in reAlpha Tech stock. Sequoia Financial Advisors LLC purchased a new stake in reAlpha Tech Corp. (NASDAQ:AIRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 33,645 shares of the company’s stock, valued at approximately $32,000. Sequoia Financial Advisors LLC owned approximately 0.08% of reAlpha Tech as of its most recent filing with the SEC. Institutional investors and hedge funds own 1.02% of the company’s stock.

reAlpha Tech Trading Up 2.0 %

Shares of AIRE stock opened at $1.00 on Friday. reAlpha Tech has a 1-year low of $0.53 and a 1-year high of $15.90. The company has a current ratio of 1.03, a quick ratio of 3.30 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $1.18 and its 200-day simple moving average is $1.18.

reAlpha Tech (NASDAQ:AIRE) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 for the quarter.

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.