Short Interest in reAlpha Tech Corp. (NASDAQ:AIRE) Drops By 28.0%

reAlpha Tech Corp. (NASDAQ:AIRE) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 246,600 shares, a decline of 28.0% from the September 30th total of 342,500 shares. Based on an average trading volume of 72,200 shares, the short-interest ratio is presently 3.4 days. Approximately 2.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in reAlpha Tech stock. Sequoia Financial Advisors LLC bought a new position in shares of reAlpha Tech Corp. (NASDAQ:AIRE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 33,645 shares of the company’s stock, valued at approximately $32,000. Sequoia Financial Advisors LLC owned 0.08% of reAlpha Tech at the end of the most recent quarter. Institutional investors and hedge funds own 1.02% of the company’s stock.

reAlpha Tech Price Performance

AIRE stock remained flat at $1.10 during midday trading on Friday. The company had a trading volume of 69,830 shares, compared to its average volume of 1,084,680. reAlpha Tech has a twelve month low of $0.53 and a twelve month high of $90.21. The firm has a 50 day moving average of $1.25 and a two-hundred day moving average of $1.17.

reAlpha Tech (NASDAQ:AIRE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.03) EPS for the quarter. The company had revenue of $0.06 million for the quarter. reAlpha Tech had a negative return on equity of 11.94% and a negative net margin of 1,259.42%.

Analyst Upgrades and Downgrades

Separately, Maxim Group assumed coverage on reAlpha Tech in a research report on Friday. They set a “buy” rating and a $3.00 price objective on the stock.

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.