Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Expands By 2,487.9%

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,030,000 shares, an increase of 2,487.9% from the December 31st total of 39,800 shares. Based on an average trading volume of 2,370,000 shares, the short-interest ratio is presently 0.4 days. Approximately 8.6% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on shares of reAlpha Tech in a research report on Friday, October 25th. They issued a “buy” rating and a $3.00 target price on the stock.

reAlpha Tech Trading Up 4.9 %

Shares of AIRE stock opened at $1.70 on Wednesday. reAlpha Tech has a 1 year low of $0.53 and a 1 year high of $4.49. The firm’s fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.08.

reAlpha Tech (NASDAQ:AIRE) last announced its earnings results on Tuesday, November 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Analysts expect that reAlpha Tech will post -0.16 earnings per share for the current fiscal 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.