RELY has 36-month beta value of 0.11. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 1 as “sell.”
The public float for RELY is 144.59M, and currently, short sellers hold a 6.79% ratio of that float. The average trading volume of RELY on October 23, 2024 was 1.51M shares.
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RELY) stock’s latest price update
The stock price of Remitly Global Inc (NASDAQ: RELY) has plunged by -1.49 when compared to previous closing price of 14.73, but the company has seen a 4.24% gain in its stock price over the last five trading sessions. invezz.com reported 2024-10-20 that Remitly (RELY) stock has underperformed the market this year, falling by over 22% even as the Nasdaq 100 and S&P 500 indices have soared by 20%+ and moved to their all-time highs. It remains 47% below its highest level in 2023 and by 72% from its all-time high, bringing its market cap to $2.9 billion.
RELY’s Market Performance
RELY’s stock has risen by 4.24% in the past week, with a monthly rise of 3.64% and a quarterly rise of 9.26%. The volatility ratio for the week is 3.48% while the volatility levels for the last 30 days are 3.44% for Remitly Global Inc The simple moving average for the past 20 days is 6.75% for RELY’s stock, with a -7.78% simple moving average for the past 200 days.
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 5.13% 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 -47.47% of loss for the given period.
Volatility was left at 3.44%, however, over the last 30 days, the volatility rate increased by 3.48%, as shares surge +5.30% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.36% upper at present.
During the last 5 trading sessions, RELY rose by +4.24%, which changed the moving average for the period of 200-days by -21.99% in comparison to the 20-day moving average, which settled at $13.59. In addition, Remitly Global Inc saw -25.28% 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 Oppenheimer Matthew B., who sale 40,119 shares at the price of $14.22 back on Oct 17 ’24. After this action, Oppenheimer Matthew B. now owns 4,542,613 shares of Remitly Global Inc, valued at $570,492 using the latest closing price.
Oppenheimer Matthew B., the Chief Executive Officer of Remitly Global Inc, sale 10,416 shares at $14.97 during a trade that took place back on Oct 18 ’24, which means that Oppenheimer Matthew B. is holding 4,532,197 shares at $155,928 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.61 for the gross margin
The net margin for Remitly Global Inc stands at -0.1. The total capital return value is set at -0.17. Equity return is now at value -18.97, with -11.97 for asset returns.
Based on Remitly Global Inc (RELY), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at -0.42. The debt to equity ratio resting at 0.04. The interest coverage ratio of the stock is -724.61.
Currently, EBITDA for the company is -96.47 million with net debt to EBITDA at 1.83. When we switch over and look at the enterprise to sales, we see a ratio of 2.47. The receivables turnover for the company is 2.26for trailing twelve months and the total asset turnover is 1.14.
Conclusion
To put it simply, Remitly Global Inc (RELY) has had a mixed performance in recent times. Analysts have a bullish 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.
