When Will Reliance Global Group Inc (NASDAQ: RELI) Be A Good Investment?

In the latest trading session, 8.15 million Reliance Global Group Inc (NASDAQ:RELI) shares changed hands as the company’s beta touched 0.51. With the company’s most recent per share price at $0.88 changed hands at -$0.02 or -2.53% at last look, the market valuation stands at $2.16M. RELI’s current price is a discount, trading about -1229.55% off its 52-week high of $11.70. The share price had its 52-week low at $0.89, which suggests the last value was -1.14% down since then. When we look at Reliance Global Group Inc’s average trading volume, we note the 10-day average is 24310.0 shares, with the 3-month average coming to 50.33K.

Analysts gave the Reliance Global Group Inc (RELI) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended RELI as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Reliance Global Group Inc’s EPS for the current quarter is expected to be $0.

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Reliance Global Group Inc (NASDAQ:RELI) trade information

Instantly RELI was in red as seen in intraday trades today. With action -21.17%, the performance over the past five days has been red. The drop to weekly highs of 1.2000 on Monday, 11/20/23 subtracted -2.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -89.73%, with the 5-day performance at -21.17% in the red. However, in the 30-day time frame, Reliance Global Group Inc (NASDAQ:RELI) is -49.42% down. Looking at the short shares, we see there were 16290.0 shares sold at short interest cover period of 1.78 days.

The consensus price target for the stock as assigned by Wall Street analysts is $7.00, meaning bulls need an upside of 87.43% from its recent market value. According to analyst projections, RELI’s forecast low is $7.00 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -695.45% plunge from its current level, while the stock would need to soar -695.45% for it to hit the projected low.

Reliance Global Group Inc (RELI) estimates and forecasts

Year-over-year growth is forecast to reach -14.10% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $3.6 million. 1 analysts are of the opinion that Reliance Global Group Inc’s revenue for the quarter ending Sep 2023 will be $3.5 million. The company’s revenue for the corresponding quarters a year ago was $4.21 million and $4.15 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -14.40%. The estimates for the next quarter sales put growth at -15.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 67.43%.

RELI Dividends

Reliance Global Group Inc is expected to release its next quarterly earnings report on November 13.

Reliance Global Group Inc (NASDAQ:RELI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 21.11% of Reliance Global Group Inc shares while 10.73% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 13.60%. There are 10.73% institutions holding the Reliance Global Group Inc stock share, with Armistice Capital, LLC the top institutional holder. As of Jun 29, 2023, the company held 7.29% of the shares, roughly 0.16 million RELI shares worth $0.73 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 0.49% or 10499.0 shares worth $49450.0 as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) U.S. Equities Trust and Fidelity Extended Market Index Fund. With 4074.0 shares estimated at $19188.0 under it, the former controlled 0.19% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.17% of the shares, roughly 3616.0 shares worth around $16344.0.

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