Reitar Logtech (NASDAQ:RITR) Trading Down 11.8% – Here’s Why

by · The Cerbat Gem

Shares of Reitar Logtech Holdings Limited (NASDAQ:RITR – Get Free Report) dropped 11.8% on Thursday . The stock traded as low as $1.25 and last traded at $1.27. 91,693 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 178,515 shares. The stock had previously closed at $1.44.

Analyst Upgrades and Downgrades

RITR has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Reitar Logtech in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Reitar Logtech from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Reitar Logtech has a consensus rating of “Sell”.

Get Our Latest Research Report on RITR

Reitar Logtech Trading Up 9.4%

The business has a 50-day moving average price of $1.43 and a 200 day moving average price of $3.54.

Hedge Funds Weigh In On Reitar Logtech

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new position in shares of Reitar Logtech in the 3rd quarter valued at about $518,000. Geode Capital Management LLC purchased a new stake in Reitar Logtech during the second quarter valued at approximately $131,000. Citadel Advisors LLC bought a new stake in shares of Reitar Logtech in the 3rd quarter valued at approximately $140,000. JPMorgan Chase & Co. purchased a new position in shares of Reitar Logtech in the 3rd quarter worth approximately $108,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Reitar Logtech during the 2nd quarter valued at approximately $51,000.

About Reitar Logtech

(Get Free Report)

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.

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