Reitar Logtech (NASDAQ:RITR) Stock Price Down 4.6% – Here’s What Happened

Reitar Logtech Holdings Limited (NASDAQ:RITR) traded down 4.6% during trading on Friday . The company traded as low as $0.5076 and last traded at $0.5076. 54,881 shares changed hands during trading, a decline of 96% from the average session volume of 1,361,498 shares. The stock had previously closed at $0.5320.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Reitar Logtech in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Reitar Logtech Trading Down 4.6%

The stock’s 50-day simple moving average is $0.82 and its two-hundred day simple moving average is $1.85.

Hedge Funds Weigh In On Reitar Logtech

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in Reitar Logtech in the 3rd quarter valued at approximately $518,000. Citadel Advisors LLC acquired a new position in shares of Reitar Logtech during the third quarter worth approximately $140,000. Geode Capital Management LLC acquired a new position in shares of Reitar Logtech during the second quarter worth approximately $131,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Reitar Logtech in the third quarter valued at approximately $108,000.

About Reitar Logtech

Reitar Logtech Holdings Limited, through its subsidiaries, provides construction management and engineering design services. It operates in two segments, Asset Management and Professional Consultancy Services; and Construction Management and Engineering Design Services. The company provides construction management and engineering design services for cold storage facilities, automated warehouses, renovated offices, and tailor-made electrical systems. It also offers asset management services for construction projects, including refrigerated storages and warehouses; and professional consultancy services for construction projects, such as renovation works, interior designs and modification works of commercial units, and residential or commercial redevelopment works.