Short Interest in Reliance Global Group, Inc. (NASDAQ:RELI) Expands By 2,923.1%

Reliance Global Group, Inc. (NASDAQ:RELI) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 653,000 shares, an increase of 2,923.1% from the September 15th total of 21,600 shares. Based on an average trading volume of 3,740,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 29.3% of the shares of the company are short sold. Currently, 29.3% of the shares of the company are short sold. Based on an average trading volume of 3,740,000 shares, the days-to-cover ratio is currently 0.2 days.

Reliance Global Group Stock Down 1.9%

Shares of NASDAQ RELI opened at $0.82 on Friday. The business has a fifty day simple moving average of $0.91 and a two-hundred day simple moving average of $1.20. Reliance Global Group has a twelve month low of $0.67 and a twelve month high of $5.11.

Reliance Global Group Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 2nd. Investors of record on Thursday, October 30th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, October 30th.

Analyst Ratings Changes

RELI has been the topic of several recent research reports. Wall Street Zen raised Reliance Global Group to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Reliance Global Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

About Reliance Global Group

Reliance Global Group, Inc focuses in the acquisition and management of wholesale and retail insurance agencies in the United States. It provides agency services for insurance products in the healthcare and Medicare, personal and commercial, trucking, property and casualty, and insurance brokerage. The company was formerly known as Ethos Media Network, Inc and changed its name to Reliance Global Group, Inc in October 2018.