Wall Street Zen Downgrades Reitar Logtech (NASDAQ:RITR) 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.

Reitar Logtech (NASDAQ:RITR - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

Reitar Logtech Price Performance

Shares of RITR stock opened at $4.66 on Friday. The business's 50-day moving average price is $4.54 and its 200-day moving average price is $3.82. Reitar Logtech has a 12 month low of $2.24 and a 12 month high of $8.75.

Institutional Trading of Reitar Logtech

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new stake in shares of Reitar Logtech during the second quarter valued at about $131,000. SBI Securities Co. Ltd. acquired a new stake in shares of Reitar Logtech during the second quarter valued at about $51,000. XTX Topco Ltd boosted its stake in shares of Reitar Logtech by 134.3% during the first 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 in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Reitar Logtech during the fourth quarter valued at about $115,000.

About Reitar Logtech

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.

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