reAlpha Tech (NASDAQ:AIRE) Issues Earnings Results, Beats Expectations By $0.02 EPS

reAlpha Tech (NASDAQ:AIRE) issued its earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02, Zacks reports. reAlpha Tech had a negative net margin of 389.38% and a negative return on equity of 597.35%. The company had revenue of $0.89 million for the quarter, compared to analyst estimates of $0.94 million.

reAlpha Tech Price Performance

Shares of NASDAQ AIRE opened at $0.31 on Friday. 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 company’s 50-day moving average price is $0.37 and its 200 day moving average price is $0.52. reAlpha Tech has a 52 week low of $0.14 and a 52 week high of $1.80. The stock has a market cap of $40.73 million, a price-to-earnings ratio of -1.42 and a beta of -3.36.

Institutional Trading of reAlpha Tech

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC grew its position in shares of reAlpha Tech by 56.1% in the fourth quarter. Virtu Financial LLC now owns 178,189 shares of the company’s stock valued at $74,000 after purchasing an additional 64,039 shares during the last quarter. State Street Corp raised its position in shares of reAlpha Tech by 49.9% during the 4th quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after purchasing an additional 80,800 shares during the last quarter. Geode Capital Management LLC lifted its stake in reAlpha Tech by 120.4% in the 4th quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after buying an additional 514,306 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in reAlpha Tech in the 3rd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AIRE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of reAlpha Tech in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $2.00 price target on shares of reAlpha Tech in a report on Monday, February 23rd. One investment 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.63.

reAlpha Tech Company Profile

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.