Reitar Logtech (NASDAQ:RITR) Trading 3.4% Higher – What’s Next?

Reitar Logtech Holdings Limited (NASDAQ:RITR)’s share price rose 3.4% on Wednesday . The stock traded as high as $1.91 and last traded at $1.80. Approximately 1,864,662 shares changed hands during trading, an increase of 3% from the average daily volume of 1,811,541 shares. The stock had previously closed at $1.74.

Analyst Ratings Changes

RITR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Reitar Logtech in a research note on Wednesday. Wall Street Zen downgraded shares of Reitar Logtech from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Reitar Logtech Stock Performance

The firm’s 50 day moving average is $4.66 and its 200-day moving average is $4.27.

Institutional Trading of Reitar Logtech

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC purchased a new stake in shares of Reitar Logtech in the 2nd quarter valued at approximately $131,000. XTX Topco Ltd grew its stake in shares of Reitar Logtech by 134.3% in the 1st quarter. XTX Topco Ltd now owns 23,938 shares of the company’s stock valued at $67,000 after buying an additional 13,721 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Reitar Logtech in the 2nd quarter valued at approximately $51,000.

Reitar Logtech Company Profile

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.