Moreover, the 36-month beta value for RELY is 0.07. Analysts have varying opinions 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 146.81M and currently, short sellers hold a 7.16% of that float. On November 13, 2024, RELY’s average trading volume was 1.64M shares.
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RELY) stock’s latest price update
The stock of Remitly Global Inc (NASDAQ: RELY) has decreased by -0.71 when compared to last closing price of 19.73. Despite this, the company has experienced a 1.19% gain in its stock price over the last five trading sessions. fool.com reported 2024-11-01 that Growth is accelerating for this remittance upstart.
RELY’s Market Performance
Remitly Global Inc (RELY) has experienced a 1.19% rise in stock performance for the past week, with a 44.47% rise in the past month, and a 41.44% rise in the past quarter. The volatility ratio for the week is 3.13%, and the volatility levels for the past 30 days are at 4.09% for RELY. The simple moving average for the last 20 days is 17.34% for RELY stock, with a simple moving average of 24.40% for the last 200 days.
Analysts’ Opinion of RELY
Many brokerage firms have already submitted their reports for RELY stocks, with Wells Fargo repeating the rating for RELY by listing it as a “Equal Weight.” The predicted price for RELY in the upcoming period, according to Wells Fargo is $18 based on the research report published on October 31, 2024 of the current year 2024.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see RELY reach a price target of $28, previously predicting the price at $24. The rating they have provided for RELY stocks is “Outperform” according to the report published on February 22nd, 2024.
Wells Fargo gave a rating of “Underweight” to RELY, setting the target price at $16 in the report published on January 17th of the current year.
RELY Trading at 31.83% 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 -14.86% of loss for the given period.
Volatility was left at 4.09%, however, over the last 30 days, the volatility rate increased by 3.13%, as shares surge +40.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +45.76% upper at present.
During the last 5 trading sessions, RELY rose by +1.19%, which changed the moving average for the period of 200-days by +12.26% in comparison to the 20-day moving average, which settled at $16.69. In addition, Remitly Global Inc saw 0.88% 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 Sharma Pankaj, who sale 4,000 shares at the price of $20.00 back on Nov 06 ’24. After this action, Sharma Pankaj now owns 151,576 shares of Remitly Global Inc, valued at $80,000 using the latest closing price.
Yoakum Rene, the EVP, Customer and Culture of Remitly Global Inc, sale 28,133 shares at $20.01 during a trade that took place back on Nov 06 ’24, which means that Yoakum Rene is holding 122,522 shares at $562,871 based on the most recent closing price.
Stock Fundamentals for RELY
Current profitability levels for the company are sitting at:
- -0.06 for the present operating margin
- 0.62 for the gross margin
The net margin for Remitly Global Inc stands at -0.06. The total capital return value is set at -0.1. Equity return is now at value -11.46, with -7.35 for asset returns.
Based on Remitly Global Inc (RELY), the company’s capital structure generated 0.02 points at debt to capital in total, while cash flow to debt ratio is standing at 7.63. The debt to equity ratio resting at 0.02. The interest coverage ratio of the stock is 2073.38.
Currently, EBITDA for the company is -96.47 million with net debt to EBITDA at 6.74. When we switch over and look at the enterprise to sales, we see a ratio of 2.98. The receivables turnover for the company is 4.01for trailing twelve months and the total asset turnover is 1.21.
Conclusion
To wrap up, the performance of Remitly Global Inc (RELY) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
