Reliance Global Group Inc. [RELI] is -83.54% lower this YTD. Is it still time to buy?


Reliance Global Group Inc. [NASDAQ: RELI] price surged by 2.91 percent to reach at $0.03. The company report on July 14, 2022 that Reliance Global Group to Participate in the Benzinga All Access Event on July 22nd.

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via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, Chairman and CEO of Reliance Global Group, will be participating in the Benzinga All Access event taking place on July 22, 2022.  Mr. Beyman will be joined by Grant Barra, Senior VP of Operations, who will be discussing the recently announced launch of RELI Exchange, a highly scalable InsurTech platform designed to accelerate growth of the Company’s agency partner network.

Mr. Beyman and Mr. Barra are scheduled to present on Friday, July 22, 2022, at 11:00 A.M. Eastern Time.

A sum of 6109798 shares traded at recent session while its average daily volume was at 167.88K shares. Reliance Global Group Inc. shares reached a high of $1.35 and dropped to a low of $0.9763 until finishing in the latest session at $1.06.

The one-year RELI stock forecast points to a potential upside of 84.86. The average equity rating for RELI stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Reliance Global Group Inc. [RELI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RELI shares is $7.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RELI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Reliance Global Group Inc. is set at 0.19, with the Price to Sales ratio for RELI stock in the period of the last 12 months amounting to 1.31. The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 0.38.

RELI Stock Performance Analysis:

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 -8.62. With this latest performance, RELI shares dropped by -53.91% in over the last four-week period, additionally sinking by -82.00% over the last 6 months – not to mention a drop of -66.98% 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 22.80, with the RSI for the last a single of trading hit 19.82, and the three-weeks RSI is set at 26.69 for Reliance Global Group Inc. [RELI]. The present Moving Average for the last 50 days of trading for this stock 2.0492, while it was recorded at 1.0780 for the last single week of trading, and 3.6588 for the last 200 days.

Insight into Reliance Global Group Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Reliance Global Group Inc. [RELI] shares currently have an operating margin of -214.05 and a Gross Margin at +58.37. Reliance Global Group Inc.’s Net Margin is presently recorded at -217.28.

Reliance Global Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Reliance Global Group Inc. [RELI] Insider Position Details

There are presently around $1 million, or 4.80% of RELI stock, in the hands of institutional investors. The top three institutional holders of RELI stocks are: VANGUARD GROUP INC with ownership of 306,498, which is approximately -8.982% of the company’s market cap and around 47.41% of the total institutional ownership; BLACKROCK INC., holding 157,459 shares of the stock with an approximate value of $0.17 million in RELI stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $91000.0 in RELI stock with ownership of nearly 31.841% of the company’s market capitalization.

Positions in Reliance Global Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 9 institutional holders increased their position in Reliance Global Group Inc. [NASDAQ:RELI] by around 265,171 shares. Additionally, 10 investors decreased positions by around 1,509,690 shares, while 2 investors held positions by with 1,067,923 shares. The mentioned changes placed institutional holdings at 706,938 shares, according to the latest SEC report filing. RELI stock had 5 new institutional investments in for a total of 78,473 shares, while 7 institutional investors sold positions of 1,448,553 shares during the same period.