Closing Strong: Remitly Global Inc (RELY) Ends at 14.29, Down -0.28 from Last Close

Investors seeking to outperform the market often focus on hand-picking stocks. Selecting the right ones has proven to be a key factor in boosting wealth.

After finishing at $14.33 in the prior trading day, Remitly Global Inc (NASDAQ: RELY) closed at $14.29, down -0.28%. In other words, the price has decreased by -$0.28 from its previous closing price. On the day, 2.83 million shares were traded. RELY stock price reached its highest trading level at $14.59 during the session, while it also had its lowest trading level at $14.225.

Ratios:

Our goal is to gain a better understanding of RELY by taking a closer look at its different ratios. In the meantime, Its Debt-to-Equity ratio is 0.30 whereas as Long-Term Debt/Eq ratio is at 0.28.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BMO Capital Markets on February 22, 2024, Upgraded its rating to Outperform and sets its target price to $28 from $24 previously.

On January 17, 2024, Wells Fargo started tracking the stock assigning a Underweight rating and target price of $16.

On December 05, 2023, BMO Capital Markets started tracking the stock assigning a Market Perform rating and target price of $25.BMO Capital Markets initiated its Market Perform rating on December 05, 2023, with a $25 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Apr 25 ’24 when Oppenheimer Matthew B. sold 10,416 shares for $17.94 per share. The transaction valued at 186,863 led to the insider holds 4,657,189 shares of the business.

Oppenheimer Matthew B. sold 10,416 shares of RELY for $191,238 on Apr 24 ’24. The Chief Executive Officer now owns 4,667,605 shares after completing the transaction at $18.36 per share. On Apr 15 ’24, another insider, Yoakum Rene, who serves as the EVP, Customer and Culture of the company, sold 15,000 shares for $18.67 each. As a result, the insider received 280,120 and left with 81,137 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RELY now has a Market Capitalization of 2750553344 and an Enterprise Value of 2628087040. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.72 while its Price-to-Book (P/B) ratio in mrq is 5.00. Its current Enterprise Value per Revenue stands at 2.603 whereas that against EBITDA is -27.527.

Stock Price History:

Over the past 52 weeks, RELY has reached a high of $27.95, while it has fallen to a 52-week low of $13.60. The 50-Day Moving Average of the stock is -25.48%, while the 200-Day Moving Average is calculated to be -32.16%.

Shares Statistics:

The stock has traded on average 1.49M shares per day over the past 3-months and 2981990 shares per day over the last 10 days, according to various share statistics. A total of 188.44M shares are outstanding, with a floating share count of 138.11M. Insiders hold about 28.25% of the company’s shares, while institutions hold 53.88% stake in the company. Shares short for RELY as of 1714435200 were 7449957 with a Short Ratio of 4.99, compared to 1711584000 on 6523433. Therefore, it implies a Short% of Shares Outstanding of 7449957 and a Short% of Float of 5.1799998.

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