The growth track for Reliance Global Group Inc. (RELI) has changed recently

Reliance Global Group Inc. (NASDAQ: RELI) stock fell -5.26% on Friday to $0.91 against a previous-day closing price of $0.96. With 3.62 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.53 million shares. During the session, the Insurance Brokers company that operates in wider Financial sector, reached to the highest price of $1.0200 whereas the lowest price it dropped to was $0.8600. The 52-week range on RELI shows that it touched its highest point at $10.49 and its lowest point at $0.80 during that stretch. It currently has a 1-year price target of $7.00. Beta for the stock currently stands at -0.29.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RELI was down-trending over the past week, with a drop of -13.87%, but this was down by -55.89% over a month. Three-month performance dropped to -64.88% while six-month performance fell -82.10%. The stock lost -71.38% in the past year, while it has lost -85.82% so far this year. A look at the trailing 12-month EPS for RELI yields -1.77 with Next year EPS estimates of -0.16. For the next quarter, that number is -0.10. This implies an EPS growth rate of -137.50% for this year and 214.30% for next year.

Float and Shares Shorts:

At present, 18.23 million RELI shares are outstanding with a float of 9.85 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.42 million, which was 2.86% higher than short shares on Jun 14, 2022. In addition to Mr. Ezra Beyman as the firm’s CEO & Exec. Chairman, Mr. Joel Markovits CPA serves as its Chief Accounting Officer & Financial Reporting Mang.

Institutional Ownership:

Through their ownership of 4.84% of RELI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 33.80% of RELI, in contrast to 2.65% held by mutual funds. Shares owned by individuals account for 2.19%. As the largest shareholder in RELI with 2.08% of the stake, The Vanguard Group, Inc. holds 303,279 shares worth 303,279. A second-largest stockholder of RELI, BlackRock Fund Advisors, holds 157,459 shares, controlling over 1.08% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in RELI, holding 85,935 shares or 0.59% stake. With a 1.03% stake in RELI, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 149,985 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.95% of RELI stock, is the second-largest Mutual Fund holder. It holds 139,137 shares valued at 0.29 million. Fidelity Extended Market Index Fu holds 0.38% of the stake in RELI, owning 56,014 shares worth 0.12 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RELI since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RELI analysts setting a high price target of $7.00 and a low target of $7.00, the average target price over the next 12 months is $7.00. Based on these targets, RELI could surge 669.23% to reach the target high and rise by 669.23% to reach the target low. Reaching the average price target will result in a growth of 669.23% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RELI will report FY 2022 earnings on 03/22/2023. Analysts have provided yearly estimates in a range of -$0.65 being high and -$0.65 being low. For RELI, this leads to a yearly average estimate of -$0.65. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Reliance Global Group Inc. surprised analysts by -$0.38 when it reported -$0.42 EPS against a consensus estimate of -$0.04. The surprise factor in the prior quarter was -$1.62. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.10. The average estimate for the next quarter is thus -$0.10.

Summary of Insider Activity:

Insiders traded RELI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 25,821 while 290,218 shares were sold.

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