Reliance Global Group Inc. (NASDAQ: RELI) stock jumped 1.81% on Tuesday to $0.68 against a previous-day closing price of $0.66. With 0.16 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.15 million shares. During the session, the Insurance Brokers company that operates in wider Financial sector, reached to the highest price of $0.7300 whereas the lowest price it dropped to was $0.6700. The 52-week range on RELI shows that it touched its highest point at $7.29 and its lowest point at $0.51 during that stretch. It currently has a 1-year price target of $7.00. Beta for the stock currently stands at -0.37.
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 up-trending over the past week, with a rise of 10.78%, but this was up by 17.57% over a month. Three-month performance surged to 0.61% while six-month performance fell -37.41%. The stock lost -89.93% in the past year, while it has gained 19.04% so far this year.
Float and Shares Shorts:
At present, 17.42 million RELI shares are outstanding with a float of 12.87 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.22 million, which was 1.24% higher than short shares on Nov 29, 2022. In addition to Mr. Ezra Beyman as the firm’s CEO & Exec. Chairman, Mr. Joel Markovits CPA serves as its CFO & Financial Reporting Mang.
Through their ownership of 3.89% of RELI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 28.71% of RELI, in contrast to 2.05% held by mutual funds. Shares owned by individuals account for 1.84%. As the largest shareholder in RELI with 1.38% of the stake, The Vanguard Group, Inc. holds 248,555 shares worth 248,555. A second-largest stockholder of RELI, BlackRock Fund Advisors, holds 157,459 shares, controlling over 0.87% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in RELI, holding 85,935 shares or 0.48% stake. With a 0.77% stake in RELI, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 139,366 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 0.61% of RELI stock, is the second-largest Mutual Fund holder. It holds 109,418 shares valued at 62149.0. Fidelity Extended Market Index Fu holds 0.31% of the stake in RELI, owning 55,272 shares worth 31394.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, RELI reported revenue of $4.21M and operating income of -$1.94M. The EBITDA in the recently reported quarter was -$13.82M and diluted EPS was -$0.10.
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 929.41% to reach the target high and rise by 929.41% to reach the target low. Reaching the average price target will result in a growth of 929.41% 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 02/28/2024. 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. Based on analyst estimates, the high estimate for the next quarter is -$0.07 and the low estimate is -$0.07. The average estimate for the next quarter is thus -$0.07.
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 11 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 578,203 while 0 shares were sold.