reAlpha Tech Corp. (NASDAQ:AIRE) Short Interest Update

reAlpha Tech Corp. (NASDAQ:AIRE) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 9,720,000 shares, a decline of 38.3% from the September 30th total of 15,760,000 shares. Currently, 40.1% of the shares of the stock are short sold. Based on an average daily volume of 27,060,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 27,060,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 40.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several research analysts have commented on AIRE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of reAlpha Tech in a report on Wednesday, October 8th. Wall Street Zen downgraded reAlpha Tech to a “strong sell” rating in a research report on Saturday, September 13th. Finally, Maxim Group restated a “hold” rating on shares of reAlpha Tech in a research note on Monday, July 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $1.25.

reAlpha Tech Stock Down 10.1%

NASDAQ:AIRE traded down $0.06 during trading hours on Monday, hitting $0.56. 4,934,159 shares of the company’s stock traded hands, compared to its average volume of 15,007,352. The business’s fifty day simple moving average is $0.69 and its two-hundred day simple moving average is $0.53. reAlpha Tech has a 52 week low of $0.14 and a 52 week high of $4.49. The firm has a market cap of $50.44 million, a P/E ratio of -2.93 and a beta of -3.89.

reAlpha Tech (NASDAQ:AIRE) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). reAlpha Tech had a negative return on equity of 213.07% and a negative net margin of 988.62%.The company had revenue of $1.25 million during the quarter, compared to the consensus estimate of $1.20 million. On average, analysts expect that reAlpha Tech will post -0.16 EPS for the current year.

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.