Reitar Logtech (NASDAQ:RITR) Trading Up 0.6% - What's Next?

Key Points

• Reitar Logtech Holdings Limited shares increased by 0.6%, trading between $5.44 and $5.49 with a total of 445,864 shares exchanged, marking a 32% drop in volume compared to its average.
• Analysts at Wall Street Zen downgraded Reitar Logtech from a "hold" rating to a "sell" rating on August 22nd.
• Several hedge funds, including Geode Capital Management and Citadel Advisors LLC, have recently adjusted their positions in Reitar Logtech, reflecting institutional interest in the stock.

Reitar Logtech Holdings Limited (NASDAQ:RITR - Get Free Report)'s stock price traded up 0.6% on Monday . The company traded as high as $5.49 and last traded at $5.47. 445,864 shares were traded during trading, a decline of 32% from the average session volume of 656,181 shares. The stock had previously closed at $5.44.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Reitar Logtech from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd.

Reitar Logtech Price Performance

The business has a fifty day moving average of $4.60 and a 200-day moving average of $4.13.

Institutional Trading of Reitar Logtech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in Reitar Logtech during the 2nd quarter valued at $131,000. SBI Securities Co. Ltd. purchased a new stake in shares of Reitar Logtech during the 2nd quarter valued at $51,000. XTX Topco Ltd increased its position in shares of Reitar Logtech by 134.3% during the 1st quarter. XTX Topco Ltd now owns 23,938 shares of the company's stock valued at $67,000 after purchasing an additional 13,721 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Reitar Logtech during the 4th quarter valued at $115,000.

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.