Reitar Logtech (NASDAQ:RITR) Shares Up 11.6% – Time to Buy?

Reitar Logtech Holdings Limited (NASDAQ:RITR)’s stock price was up 11.6% during mid-day trading on Monday . The stock traded as high as $0.8126 and last traded at $0.7644. Approximately 248,729 shares were traded during trading, a decline of 91% from the average daily volume of 2,739,805 shares. The stock had previously closed at $0.6852.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Reitar Logtech in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Reitar Logtech Stock Up 11.6%

The company’s 50 day simple moving average is $1.05 and its 200-day simple moving average is $2.33.

Hedge Funds Weigh In On Reitar Logtech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in Reitar Logtech in the 2nd quarter worth about $51,000. Geode Capital Management LLC bought a new position in shares of Reitar Logtech in the second quarter worth approximately $131,000. JPMorgan Chase & Co. bought a new position in shares of Reitar Logtech in the third quarter worth approximately $108,000. BNP Paribas Financial Markets purchased a new stake in Reitar Logtech in the third quarter valued at approximately $518,000. Finally, Citadel Advisors LLC bought a new stake in Reitar Logtech during the third quarter valued at approximately $140,000.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.