Reliance Global Group (NASDAQ:RELI) Stock Price Down 22.1% – Here’s What Happened

Reliance Global Group, Inc. (NASDAQ:RELI) shares fell 22.1% during mid-day trading on Monday . The stock traded as low as $0.3949 and last traded at $0.4240. Approximately 2,249,181 shares changed hands during trading, an increase of 116% from the average session volume of 1,043,605 shares. The stock had previously closed at $0.5441.

Analysts Set New Price Targets

RELI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Reliance Global Group in a report on Thursday. Wall Street Zen cut shares of Reliance Global Group from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Reliance Global Group Stock Down 22.1%

The firm has a 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $0.85.

Reliance Global Group (NASDAQ:RELI) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter. The firm had revenue of $5.25 million during the quarter.

About Reliance Global Group

Reliance Global Group, Inc is an externally managed business development company that provides debt and equity financing to middle-market companies and real estate ventures. The firm offers customized capital solutions including senior secured loans, subordinated debt, mezzanine financing and equity co-investments. By focusing on businesses and projects that may be underserved by traditional lenders, Reliance Global Group seeks to support client growth and generate attractive risk-adjusted returns for its investors.

The company’s investment strategy spans a diverse array of industries, with a particular focus on commercial real estate, healthcare, technology, consumer products and specialty finance.