reAlpha Tech Corp. (NASDAQ:AIRE) Sees Significant Growth in Short Interest

Key Points

• reAlpha Tech Corp. (NASDAQ:AIRE) saw a significant increase in short interest, rising by 164.9% in September to a total of 17,460,000 shares, with 72.0% of its shares sold short.
• Two Sigma Investments LP recently acquired a new stake in reAlpha Tech, purchasing 26,679 shares valued at approximately $77,000.
• Analysts have set an average price target of $1.25 for reAlpha Tech, with the stock currently rated as a "Hold" after recent downgrades.

reAlpha Tech Corp. (NASDAQ:AIRE - Get Free Report) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 17,460,000 shares, an increase of 164.9% from the August 31st total of 6,590,000 shares. Currently, 72.0% of the shares of the stock are sold short. Based on an average daily volume of 33,090,000 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 33,090,000 shares, the short-interest ratio is presently 0.5 days. Currently, 72.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On reAlpha Tech

An institutional investor recently bought a new position in reAlpha Tech stock. Two Sigma Investments LP purchased a new stake in shares of reAlpha Tech Corp. (NASDAQ:AIRE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,679 shares of the company's stock, valued at approximately $77,000. Two Sigma Investments LP owned about 0.06% of reAlpha Tech as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.02% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AIRE. Maxim Group reissued a "hold" rating on shares of reAlpha Tech in a research note on Monday, July 28th. Wall Street Zen downgraded shares of reAlpha Tech to a "strong sell" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, reAlpha Tech presently has an average rating of "Hold" and an average target price of $1.25.

reAlpha Tech Stock Down 4.2%

AIRE stock opened at $0.68 on Friday. The company has a fifty day moving average price of $0.58 and a 200-day moving average price of $0.59. reAlpha Tech has a 52-week low of $0.14 and a 52-week high of $4.49.

reAlpha Tech (NASDAQ:AIRE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $1.25 million for the quarter, compared to the consensus estimate of $1.20 million. reAlpha Tech had a negative net margin of 988.62% and a negative return on equity of 213.07%. On average, equities research analysts anticipate that reAlpha Tech will post -0.16 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.