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Reliance Global Group Inc   (RELI)
Other Ticker:  
 
    Sector  Financial    Industry Insurance Brokerage
   Industry Insurance Brokerage
   Sector  Financial
 
Price: $0.3500 $0.00 -0.285%
Day's High: $0.377 Week Perf: -9.09 %
Day's Low: $ 0.35 30 Day Perf: -23.91 %
Volume (M): 131 52 Wk High: $ 5.20
Volume (M$): $ 46 52 Wk Avg: $2.30
Open: $0.37 52 Wk Low: $0.33



 Market Capitalization (Millions $) 1
 Shares Outstanding (Millions) 3
 Employees -
 Revenues (TTM) (Millions $) 15
 Net Income (TTM) (Millions $) -16
 Cash Flow (TTM) (Millions $) -2
 Capital Exp. (TTM) (Millions $) 1

Reliance Global Group Inc
Reliance Global Group Inc is a diversified holding company that focuses on real estate, insurance, and technology sectors. The company's main objective is to grow its holdings through strategic acquisitions and partnerships. It operates through its subsidiary companies that engage in various activities, such as real estate development, insurance brokerage, software development, and data analytics. The company aims to provide innovative solutions and services in its respective industries to create value for its shareholders. Reliance Global Group Inc is headquartered in New York, United States.


   Company Address: 300 Blvd. of the Americas Lakewood 8701 NJ
   Company Phone Number: 380-4600   Stock Exchange / Ticker: NASDAQ RELI
   RELI is expected to report next financial results on March 29, 2024.


   

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Reliance Global Group Inc

Reliance Global Group Inc Faces Challenging Second Quarter as Revenue Takes an Unpleasant -24.036% Plunge

Over the last five trading days, Reliance Global Group Inc (NASDAQ: RGGI) has experienced a decline in its stock price by -8.7%. This downturn has contributed to the year-to-date performance of the stock, which currently stands at an impressive 349.92%. Despite this recent drop, the stock is still trading at 12.1% above its 52-week average.
The weak demand for Reliance Global Group Inc can be attributed to the rise in losses reported in their Jun 30, 2023 financial statement. The company's net loss per share increased from $8.61 to $-0.39 in comparison to the previous year. Additionally, their revenue decreased by -24.036% to $3.20 million from $4.21 million.
However, when comparing the first quarter revenue, the decline is lesser at -18.867% from $3.94 million. On a positive note, the company's earnings per share improved from $-0.59 per share. In the second quarter of 2023, Reliance Global Group Inc faced a net shortfall of $-1.055 million, which is a significant deviation from the $10.496 million bottom line reported in the same period the previous year.

Reliance Global Group Inc

Reliance Global Group Inc Suffers Larger Year-On-Year Loss Due to Decreased Business; Revenue Drops by -7.004% in Fiscal Year Ending March 31, 2023

Reliance Global Group Inc has experienced a decline in revenue and increased losses in the fiscal span ending March 31, 2023. The company reported a deficit of $-0.59 per share, compared to earnings of $9.34 million in the same quarter a year before. This represents a significant decline of -107.02% year on year. The company's revenue has also decreased by -7.004% to $3.94 million, which is $0.22 million lower than the preceding quarter.
One of the main reasons for the decline in revenue is the lower turnover reported by the insurance brokerage company. This decline has led to a larger loss for the company, and the net loss for the fiscal span ending March 31, 2023, was $-1.789 million. This is a concerning trend for the company, and there is a need for the management to analyze the underlying factors behind the decline in revenue and increased losses.






 

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