Reliance Global Group Inc (NASDAQ:RELI) shares, rose in value, with the stock price up by 43.24% to the previous day’s close as strong demand from buyers drove the stock to $0.53.
Actively observing the price movement in the last trading, the stock closed the session at $0.37. The value of beta (5-year monthly) was 0.40. Referring to stock’s 52-week performance, its high was $5.20, and the low was $0.32. On the whole, RELI has fluctuated by 4.82% over the past month.
With the market capitalization of Reliance Global Group Inc currently standing at about $2.53 million, investors are eagerly awaiting this quarter’s results, scheduled for May 16, 2024 – May 20, 2024.
Analysts have estimated the company’s revenue for the quarter at $3.6 million, with a low estimate of $3.6 million and a high estimate of $3.6 million. According to the average forecast, sales growth in current quarter could jump down -14.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $14.4 million, representing a decrease of -14.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RELI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RELI currently trading nearly 43.62% and 22.32% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.19, while the 7-day volatility ratio is showing 16.12% which for the 30-day chart, stands at 15.04%. Furthermore, Reliance Global Group Inc (RELI)’s beta value is 0.34, and its average true range (ATR) is 0.06.
A comparison of Reliance Global Group Inc (RELI) with its peers suggests the former has fared considerably weaker in the market. RELI showed an intraday change of 43.24% in last session, and over the past year, it shrunk by -79.85%%.
Data on historical trading for Reliance Global Group Inc (NASDAQ:RELI) indicates that the trading volumes over the past 10 days have averaged 0.62 million and over the past 3 months, they’ve averaged 241.67K. According to company’s latest data on outstanding shares, there are 4.78 million shares outstanding.
Nearly 19.16% of Reliance Global Group Inc’s shares belong to company insiders and institutional investors own 6.96% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 46210.0 shares as on Mar 15, 2024, resulting in a short ratio of 0.14. According to the data, the short interest in Reliance Global Group Inc (RELI) stood at 0.97% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 7270.0. The stock has fallen by -1.30% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RELI stock heading into the next quarter.
