Remitly Global Inc (NASDAQ: RELY)’s stock price has gone rise by 1.18 in comparison to its previous close of 22.06, however, the company has experienced a 7.88% increase in its stock price over the last five trading days. CNBC Television reported 2023-11-10 that Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m.
Is It Worth Investing in Remitly Global Inc (NASDAQ: RELY) Right Now?
, and the 36-month beta value for RELY is at 0.17. Analysts have varying views on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The average price suggested by analysts for RELY is $29.57, which is $7.25 above the current market price. The public float for RELY is 128.87M, and currently, shorts hold a 4.08% of that float. The average trading volume for RELY on November 16, 2023 was 1.65M shares.
RELY’s Market Performance
RELY’s stock has seen a 7.88% increase for the week, with a -17.76% drop in the past month and a -3.46% fall in the past quarter. The volatility ratio for the week is 4.07%, and the volatility levels for the past 30 days are at 4.95% for Remitly Global Inc The simple moving average for the last 20 days is -6.21% for RELY’s stock, with a simple moving average of 12.93% for the last 200 days.
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 -9.99% 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 unable to rebound, for now settling with -20.14% of loss for the given period.
Volatility was left at 4.95%, however, over the last 30 days, the volatility rate increased by 4.07%, as shares sank -17.18% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.65% lower at present.
During the last 5 trading sessions, RELY rose by +7.88%, which changed the moving average for the period of 200-days by +85.07% in comparison to the 20-day moving average, which settled at $23.57. In addition, Remitly Global Inc saw 94.93% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at RELY starting from Oppenheimer Matthew B., who sale 10,416 shares at the price of $21.89 back on Nov 14. After this action, Oppenheimer Matthew B. now owns 4,761,349 shares of Remitly Global Inc, valued at $228,000 using the latest closing price.
Sinha Ankur, the Chief Technology Officer of Remitly Global Inc, sale 51,000 shares at $20.84 during a trade that took place back on Nov 13, which means that Sinha Ankur is holding 194,939 shares at $1,063,044 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 -20.60, with -13.42 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 4.36, 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.
In conclusion, Remitly Global Inc (RELY) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.