In the past week, RELY stock has gone up by 3.17%, with a monthly gain of 12.80% and a quarterly surge of 35.63%. The volatility ratio for the week is 2.57%, and the volatility levels for the last 30 days are 3.33% for Remitly Global Inc. The simple moving average for the last 20 days is 4.55% for RELY’s stock, with a simple moving average of 54.94% for the last 200 days.
Is It Worth Investing in Remitly Global Inc. (NASDAQ: RELY) Right Now?
and a 36-month beta value of 0.39. Opinions on the stock are mixed, with 7 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price predicted for Remitly Global Inc. (RELY) by analysts is $28.14, which is $2.14 above the current market price. The public float for RELY is 166.85M, and at present, short sellers hold a 1.10% of that float. On September 18, 2023, the average trading volume of RELY was 1.15M shares.
RELY) stock’s latest price update
Remitly Global Inc. (NASDAQ: RELY)’s stock price has soared by 2.97 in relation to previous closing price of 25.25. Nevertheless, the company has seen a gain of 3.17% in its stock price over the last five trading days. GlobeNewsWire reported 2023-08-31 that SEATTLE, Aug. 31, 2023 (GLOBE NEWSWIRE) — Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a leading digital financial services provider for immigrants and their families, today announced that its management team will present at the 2023 Goldman Sachs Communacopia + Technology Conference.
Analysts’ Opinion of RELY
Many brokerage firms have already submitted their reports for RELY stocks, with Wolfe Research repeating the rating for RELY by listing it as a “Outperform.” The predicted price for RELY in the upcoming period, according to Wolfe Research is $28 based on the research report published on August 04, 2023 of the current year 2023.
RELY Trading at 17.49% from the 50-Day Moving Average
After a stumble in the market that brought RELY to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.78% of gains for the given period.
Volatility was left at 3.33%, however, over the last 30 days, the volatility rate increased by 2.57%, as shares surge +12.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +43.96% upper at present.
During the last 5 trading sessions, RELY rose by +3.17%, which changed the moving average for the period of 200-days by +154.15% in comparison to the 20-day moving average, which settled at $25.01. In addition, Remitly Global Inc. saw 127.07% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RELY starting from Munipalli Hemanth, who sale 31,622 shares at the price of $24.72 back on Aug 30. After this action, Munipalli Hemanth now owns 87,137 shares of Remitly Global Inc., valued at $781,696 using the latest closing price.
Sinha Ankur, the Chief Technology Officer of Remitly Global Inc., sale 6,126 shares at $25.34 during a trade that took place back on Aug 29, which means that Sinha Ankur is holding 245,939 shares at $155,207 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -17.94 for the present operating margin
- +48.83 for the gross margin
The net margin for Remitly Global Inc. stands at -17.45. The total capital return value is set at -24.03, while invested capital returns managed to touch -23.53. Equity return is now at value -20.40, with -13.80 for asset returns.
Based on Remitly Global Inc. (RELY), the company’s capital structure generated 1.92 points at debt to equity in total, while total debt to capital is 1.88. Total debt to assets is 1.32, with long-term debt to equity ratio resting at 1.18. Finally, the long-term debt to capital ratio is 1.16.
When we switch over and look at the enterprise to sales, we see a ratio of 5.54, with the company’s debt to enterprise value settled at 0.01. The receivables turnover for the company is 5.05 and the total asset turnover is 0.99.
Conclusion
To sum up, Remitly Global Inc. (RELY) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
