Reliance Global Group Inc. [RELI] Stock trading around $2.11 per share: What’s Next?

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Reliance Global Group Inc. [NASDAQ: RELI] gained 3.94% or 0.08 points to close at $2.11 with a heavy trading volume of 19268786 shares. The company report on November 22, 2021 that Reliance Global Group Promotes Jonathan Fortman to Vice President of Acquisitions.

via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, announced that Jonathan Fortman has been promoted from Chief Operating Officer of Reliance Global Group’s subsidiary, Fortman Insurance Services, to Vice President of Acquisitions for Reliance Global Group, where he reports directly to Mr. Ezra Beyman, Chairman and CEO.

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Mr. Fortman joined Reliance Global Group in 2019 when the Company acquired Fortman Insurance Services, an independent insurance agency started by the Fortman family in 1978. Mr. Fortman joined Fortman Insurance Services in 2003 and over time, his responsibilities increased, eventually leading to his appointment as COO in 2019. Mr. Fortman earned a bachelor’s degree in Economics from Bowling Green State University in 2002.

It opened the trading session at $2.082, the shares rose to $3.38 and dropped to $1.97, the range by which the price of stock traded the whole day. The daily chart for RELI points out that the company has recorded -35.87% loss over the past six months. However, it is still -4.98% lower than its most recent low trading price.

If we look at the average trading volume of 27.78K shares, RELI reached to a volume of 19268786 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Reliance Global Group Inc. [RELI]:

The Average True Range (ATR) for Reliance Global Group Inc. is set at 0.25, with the Price to Sales ratio for RELI stock in the period of the last 12 months amounting to 2.61. The Price to Book ratio for the last quarter was 1.80, with the Price to Cash per share for the same quarter was set at 0.51.

Trading performance analysis for RELI stock

Reliance Global Group Inc. [RELI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.46. With this latest performance, RELI shares dropped by -10.59% in over the last four-week period, additionally sinking by -35.87% over the last 6 months – not to mention a drop of -65.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RELI stock in for the last two-week period is set at 35.40, with the RSI for the last a single of trading hit 32.13, and the three-weeks RSI is set at 37.75 for Reliance Global Group Inc. [RELI]. The present Moving Average for the last 50 days of trading for this stock 2.47, while it was recorded at 2.13 for the last single week of trading.

Reliance Global Group Inc. [RELI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Reliance Global Group Inc. [RELI] shares currently have an operating margin of -49.61 and a Gross Margin at +60.22. Reliance Global Group Inc.’s Net Margin is presently recorded at -50.81.

Return on Total Capital for RELI is now -25.73, given the latest momentum, and Return on Invested Capital for the company is -41.37. Return on Equity for this stock declined to -977.65, with Return on Assets sitting at -21.19. When it comes to the capital structure of this company, Reliance Global Group Inc. [RELI] has a Total Debt to Total Equity ratio set at 12,213.10. Additionally, RELI Total Debt to Total Capital is recorded at 99.19, with Total Debt to Total Assets ending up at 77.95. Long-Term Debt to Equity for the company is recorded at 10,304.08, with the Long-Term Debt to Total Capital now at 58.87.

Receivables Turnover for the company is 39.83 with a Total Asset Turnover recorded at a value of 0.42.Reliance Global Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

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An analysis of insider ownership at Reliance Global Group Inc. [RELI]

There are presently around $1 million, or 4.20% of RELI stock, in the hands of institutional investors. The top three institutional holders of RELI stocks are: VANGUARD GROUP INC with ownership of 344,993, which is approximately 0.942% of the company’s market cap and around 89.30% of the total institutional ownership; BOOTHBAY FUND MANAGEMENT, LLC, holding 56,000 shares of the stock with an approximate value of $0.11 million in RELI stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.1 million in RELI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Reliance Global Group Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 3 institutional holders increased their position in Reliance Global Group Inc. [NASDAQ:RELI] by around 59,529 shares. Additionally, 5 investors decreased positions by around 54,719 shares, while 2 investors held positions by with 396,630 shares. The mentioned changes placed institutional holdings at 510,878 shares, according to the latest SEC report filing. RELI stock had 2 new institutional investments in for a total of 56,310 shares, while 3 institutional investors sold positions of 26,516 shares during the same period.