Short Interest in Reliance Global Group, Inc. (NASDAQ:RELI) Decreases By 66.9%

Reliance Global Group, Inc. (NASDAQ:RELI) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 366,923 shares, a drop of 66.9% from the November 30th total of 1,107,667 shares. Based on an average daily trading volume, of 325,244 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily trading volume, of 325,244 shares, the days-to-cover ratio is currently 1.1 days.

Reliance Global Group Price Performance

Reliance Global Group stock opened at $0.56 on Friday. Reliance Global Group has a 52-week low of $0.55 and a 52-week high of $3.55. The firm has a 50-day moving average price of $0.75 and a two-hundred day moving average price of $1.06.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RELI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Reliance Global Group in a research note on Wednesday, October 8th. Wall Street Zen raised Reliance Global Group from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Reliance Global Group Company Profile

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.