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

by · The Markets Daily

reAlpha Tech (NASDAQ:AIRE – Get Free Report) announced its earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02, Zacks reports. reAlpha Tech had a negative net margin of 813.89% and a negative return on equity of 595.92%. The business had revenue of $0.89 million during the quarter, compared to analyst estimates of $0.94 million.

reAlpha Tech Price Performance

NASDAQ AIRE traded up $0.01 on Friday, reaching $0.31. 2,703,103 shares of the company’s stock traded hands, compared to its average volume of 2,928,462. The stock has a market cap of $40.01 million, a PE ratio of -1.46 and a beta of -3.36. reAlpha Tech has a 12 month low of $0.14 and a 12 month high of $1.80. The stock has a 50-day simple moving average of $0.37 and a 200 day simple moving average of $0.52. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.99 and a quick ratio of 3.99.

Analyst Upgrades and Downgrades

AIRE has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price objective on shares of reAlpha Tech in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of reAlpha Tech in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $1.63.

Read Our Latest Research Report on reAlpha Tech

Institutional Investors Weigh In On reAlpha Tech

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of reAlpha Tech by 120.4% during the 4th quarter. Geode Capital Management LLC now owns 941,337 shares of the company’s stock valued at $393,000 after purchasing an additional 514,306 shares during the last quarter. Scientech Research LLC purchased a new stake in reAlpha Tech during the third quarter valued at about $87,000. Virtu Financial LLC grew its stake in shares of reAlpha Tech by 484.4% during the third quarter. Virtu Financial LLC now owns 114,150 shares of the company’s stock valued at $88,000 after buying an additional 94,616 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of reAlpha Tech by 49.9% in the fourth quarter. State Street Corp now owns 242,650 shares of the company’s stock worth $101,000 after buying an additional 80,800 shares during the period. Hedge funds and other institutional investors own 1.02% of the company’s stock.

reAlpha Tech Company Profile

(Get Free Report)

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.

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