Remitly Global Inc (NASDAQ:RELY) traded at $19.36 at close of the session on current trade day and made an upward move of 2.27% on its previous day’s price.
Looking at the stock we see that its previous close was $18.93 and the beta (5Y monthly) reads 0.1 with the day’s price range being $18.5667 – $19.51. In terms of its 52-week price range, RELY has a high of $23.01 and a low of $11.60. The company’s stock has gained about 49.04% over that past 30 days.
Remitly Global Inc has a market cap of $3.83 billion and is expected to release its quarterly earnings report in December.
On the other hand, looking at the outlook for the RELY stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of Hold.
Based on estimates by 8 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Remitly Global Inc (RELY) stock as a Hold, while 8 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 28.18% off its SMA20 and 35.82% from its 50-day simple moving average. The RSI (14) is pointing at 85.45 while the volatility over the past week is 7.40% and jumps to 4.33% over the past one month. The beta value is 0.02, while the average true range (ATR) is currently pointing at 0.83. The average price target for the stock over the next 12 months is $25, with the estimates having a low of $25 and a high of $25. These price ends are -29.13% and -29.13% off the current price level respectively, although investors could be excited at the prospect of a -29.13% if the RELY share price touches on the median price of $25.
Coming back to Remitly Global Inc (NASDAQ:RELY), we note that the average 3-month trading volume was 1.52 million, while that of the preceding 10-day period stands at 2.37 million. Current shares outstanding are 188.44 million.
The insiders hold 25.88% of the company’s shares while institutions hold 62.41%. The data shows that short shares as of 2024-10-15, stood at 9.85 million at a short ratio of 5.72. This represents a 659.00 short interest in shares outstanding on 2024-10-15. Shares short fall in October from the previous month at 11.24 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -0.31% down in year-to-date price movement.
