Now Is A Good Time To Buy Reliance Global Group Inc (NASDAQ: RELI)

During the last session, Reliance Global Group Inc (NASDAQ:RELI)’s traded shares were 2.93 million, with the beta value of the company hitting 0.35. At the end of the trading day, the stock’s price was $0.37, reflecting an intraday gain of 3.64% or $0.01. The 52-week high for the RELI share is $5.20, that puts it down -1305.41 from that peak though still a striking 13.51% gain since the share price plummeted to a 52-week low of $0.32. The company’s market capitalization is $1.77M, and the average intraday trading volume over the past 10 days was 69520.0 shares, and the average trade volume was 153.25K shares over the past three months.

Reliance Global Group Inc (NASDAQ:RELI) trade information

Reliance Global Group Inc (RELI) registered a 3.64% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.64% in intraday trading to $0.37, hitting a weekly high. The stock’s 5-day price performance is 4.71%, and it has moved by -33.81% in 30 days. Based on these gigs, the overall price performance for the year is -87.71%. The short interest in Reliance Global Group Inc (NASDAQ:RELI) is 46210.0 shares and it means that shorts have 0.14 day(s) to cover.

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Reliance Global Group Inc (RELI) estimates and forecasts

In the rating firms’ projections, revenue will decrease -14.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $3.6 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $3.5 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.21 million and $4.15 million respectively. In this case, analysts expect current quarter sales to shrink by -14.40% and then drop by -15.70% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 67.43%.

RELI Dividends

Reliance Global Group Inc is due to release its next quarterly earnings in May. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Reliance Global Group Inc insiders own 21.25% of total outstanding shares while institutional holders control 6.79%, with the float percentage being 8.63%. Armistice Capital, LLC is the largest shareholder of the company, while 14 institutions own stock in it. As of Jun 29, 2023, the company held over 0.16 million shares (or 7.29% of all shares), a total value of $0.73 million in shares.

The next largest institutional holding, with 10499.0 shares, is of Blackrock Inc.’s that is approximately 0.49% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $49450.0.

Also, the Mutual Funds coming in first place with the largest holdings of Reliance Global Group Inc (RELI) shares are Price (T.Rowe) U.S. Equities Trust and Fidelity Extended Market Index Fund. Data provided on Jun 29, 2023 indicates that Price (T.Rowe) U.S. Equities Trust owns about 4074.0 shares. This amounts to just over 0.19 percent of the company’s overall shares, with a $19188.0 market value. The same data shows that the other fund manager holds slightly less at 3616.0, or about 0.17% of the stock, which is worth about $16344.0.