The stock of Remitly Global Inc (RELY) has gone down by -0.86% for the week, with a -11.01% drop in the past month and a 12.65% rise in the past quarter. The volatility ratio for the week is 3.22%, and the volatility levels for the past 30 days are 3.21% for RELY. The simple moving average for the past 20 days is -6.93% for RELY’s stock, with a -13.30% simple moving average for the past 200 days.
Is It Worth Investing in Remitly Global Inc (NASDAQ: RELY) Right Now?
RELY has 36-month beta value of 0.20. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RELY is 135.24M, and currently, short sellers hold a 4.82% ratio of that float. The average trading volume of RELY on April 25, 2024 was 1.26M shares.
RELY) stock’s latest price update
The stock of Remitly Global Inc (NASDAQ: RELY) has decreased by -2.18 when compared to last closing price of 18.84.Despite this, the company has seen a loss of -0.86% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-17 that SEATTLE, April 17, 2024 (GLOBE NEWSWIRE) — Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that it will report first quarter 2024 financial results after the market close on Wednesday, May 1, 2024. Management will host a conference call and live webcast to present the Company’s financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time that same evening. Conference call and webcast information can be found below.
Analysts’ Opinion of RELY
Many brokerage firms have already submitted their reports for RELY stocks, with BMO Capital Markets repeating the rating for RELY by listing it as a “Outperform.” The predicted price for RELY in the upcoming period, according to BMO Capital Markets is $28 based on the research report published on February 22, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see RELY reach a price target of $16. The rating they have provided for RELY stocks is “Underweight” according to the report published on January 17th, 2024.
BMO Capital Markets gave a rating of “Market Perform” to RELY, setting the target price at $25 in the report published on December 05th of the previous year.
RELY Trading at -7.76% 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 -34.06% of loss for the given period.
Volatility was left at 3.21%, however, over the last 30 days, the volatility rate increased by 3.22%, as shares sank -11.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.11% lower at present.
During the last 5 trading sessions, RELY fell by -0.86%, which changed the moving average for the period of 200-days by -0.43% in comparison to the 20-day moving average, which settled at $19.68. In addition, Remitly Global Inc saw -5.10% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RELY starting from Yoakum Rene, who sale 15,000 shares at the price of $18.67 back on Apr 15 ’24. After this action, Yoakum Rene now owns 81,137 shares of Remitly Global Inc, valued at $280,120 using the latest closing price.
Hug Joshua, the Chief Operating Officer of Remitly Global Inc, sale 20,000 shares at $20.30 during a trade that took place back on Apr 10 ’24, which means that Hug Joshua is holding 3,873,631 shares at $406,042 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -0.12 for the present operating margin
- 0.61 for the gross margin
The net margin for Remitly Global Inc stands at -0.12. The total capital return value is set at -0.17. Equity return is now at value -23.35, with -13.61 for asset returns.
Based on Remitly Global Inc (RELY), the company’s capital structure generated 0.21 points at debt to capital in total, while cash flow to debt ratio is standing at -0.37. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 292.81.
Currently, EBITDA for the company is -96.47 million with net debt to EBITDA at 1.82. When we switch over and look at the enterprise to sales, we see a ratio of 3.49. The receivables turnover for the company is 2.36for trailing twelve months and the total asset turnover is 0.91.
Conclusion
To put it simply, Remitly Global Inc (RELY) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
