Reitar Logtech (NASDAQ:RITR) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen has downgraded Reitar Logtech (NASDAQ:RITR) from a "hold" rating to a "sell" rating in a recent research note.
• The stock opened at $4.66 on Friday, with a 12-month price range of $2.24 to $8.75.
• Institutional investors are actively adjusting their positions, with notable stakes acquired by Geode Capital Management and SBI Securities in the second quarter.

Wall Street Zen downgraded shares of Reitar Logtech (NASDAQ:RITR - Free Report) from a hold rating to a sell rating in a report released on Friday morning.

Reitar Logtech Price Performance

Reitar Logtech stock traded up $0.07 during midday trading on Friday, hitting $4.79. The company's stock had a trading volume of 737,545 shares, compared to its average volume of 143,683. Reitar Logtech has a 1-year low of $2.24 and a 1-year high of $8.75. The company has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $3.86.

Institutional Trading of Reitar Logtech

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Reitar Logtech in the 4th quarter worth about $38,000. SBI Securities Co. Ltd. acquired a new position in shares of Reitar Logtech in the 2nd quarter valued at approximately $51,000. Geode Capital Management LLC acquired a new position in shares of Reitar Logtech in the 2nd quarter valued at approximately $131,000. Finally, Citadel Advisors LLC acquired a new position in shares of Reitar Logtech in the 4th quarter valued at approximately $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.