Reliance Global Group (NASDAQ:RELI) Stock Price Down 22.1% – Time to Sell?

Reliance Global Group, Inc. (NASDAQ:RELI)’s stock price traded down 22.1% during trading on Wednesday . The stock traded as low as $0.3949 and last traded at $0.4240. 2,249,181 shares were traded during trading, an increase of 116% from the average session volume of 1,043,605 shares. The stock had previously closed at $0.5441.

Wall Street Analysts Forecast Growth

RELI has been the subject of several recent analyst reports. Wall Street Zen downgraded Reliance Global Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Reliance Global Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Reliance Global Group Price Performance

The business’s 50-day moving average price is $0.51 and its 200 day moving average price is $0.74.

Institutional Investors Weigh In On Reliance Global Group

An institutional investor recently raised its position in Reliance Global Group stock. Geode Capital Management LLC lifted its holdings in shares of Reliance Global Group, Inc. (NASDAQ:RELI) by 154.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,999 shares of the company’s stock after purchasing an additional 37,034 shares during the period. Geode Capital Management LLC’s holdings in Reliance Global Group were worth $31,000 at the end of the most recent reporting period.

About Reliance Global Group

Reliance Global Group, Inc is an externally managed business development company that provides debt and equity financing to middle-market companies and real estate ventures. The firm offers customized capital solutions including senior secured loans, subordinated debt, mezzanine financing and equity co-investments. By focusing on businesses and projects that may be underserved by traditional lenders, Reliance Global Group seeks to support client growth and generate attractive risk-adjusted returns for its investors.

The company’s investment strategy spans a diverse array of industries, with a particular focus on commercial real estate, healthcare, technology, consumer products and specialty finance.