Market cap of Reliance Global Group Inc. [RELI] reaches 93.01M – now what?


Reliance Global Group Inc. [NASDAQ: RELI] gained 17.70% on the last trading session, reaching $7.58 price per share at the time. The company report on December 23, 2021 that Reliance Global Group Announces Pricing of $20.0 Million Private Placement with Institutional Investors.

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, today announced a private placement of preferred stock, common stock and warrants for gross proceeds of $20.0 million before deducting the placement agent’s fees and other estimated offering expenses. The offering is expected to close on or around December 27, 2021.

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Under the terms of the securities purchase agreement, the Company sold 9,076 shares of the Company’s newly designated Series B Convertible Preferred Stock, 2,670,892 shares of common stock and warrants to purchase up to 9,779,952 shares of common stock. The Series B Convertible Preferred Stock is convertible immediately into 2,219,084 shares of common stock at a conversion price of $4.09 per share, subject to customary adjustment. The Series B Convertible Preferred Stock receives dividends if and when dividends are paid on the common stock, and is, generally, non-voting. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $4.09 per share. The warrants will expire five years from the date of issuance. The purchase price for one share of common stock and two corresponding warrants was $4.09. The purchase price for one share of Series B Preferred Stock (convertible into approximately 244.5 shares of common stock), and approximately 489 corresponding warrants, was $1,000 (equal to $4.09 per share of common stock into which it is convertible, and corresponding two warrants).

Reliance Global Group Inc. represents 10.94 million in outstanding shares, while the company has a total market value of $93.01 million with the latest information. RELI stock price has been found in the range of $6.30 to $9.55.

If compared to the average trading volume of 3.29M shares, RELI reached a trading volume of 25308482 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 1.17, with the Price to Sales ratio for RELI stock in the period of the last 12 months amounting to 10.33. The Price to Book ratio for the last quarter was 6.48, with the Price to Cash per share for the same quarter was set at 0.46.

Trading performance analysis for RELI stock

Reliance Global Group Inc. [RELI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 42.75. With this latest performance, RELI shares gained by 288.72% in over the last four-week period, additionally plugging by 113.52% over the last 6 months – not to mention a rise of 26.79% 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 81.02, with the RSI for the last a single of trading hit 83.36, and the three-weeks RSI is set at 78.86 for Reliance Global Group Inc. [RELI]. The present Moving Average for the last 50 days of trading for this stock 2.99, while it was recorded at 6.57 for the last single week of trading, and 3.23 for the last 200 days.

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 $3 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 87.90% of the total institutional ownership; BOOTHBAY FUND MANAGEMENT, LLC, holding 56,000 shares of the stock with an approximate value of $0.36 million in RELI stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.33 million in RELI stock with ownership of nearly 0% of the company’s market capitalization.

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.