Is Wall Street High Or Low On Remitly Global Inc. (RELY)?

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Remitly Global Inc. (NASDAQ:RELY) finished Wednesday with an addition of $0.4 to close at $10.00, an upside of 4.17 percent. An average of 758,560 shares of common stock have been traded in the last five days. There was a gain of $0.69 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 659,540 shares traded, while the 50-day average volume stands at 863,698.

RELY stock has decreased by -2.25% in the last month. The company shares reached their 1-month lowest point of $8.94 on 12/19/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $6.66 and a high of $21.26 in 52 weeks. It has reached a new high 1 time so far this year and lost -51.50% or -$10.62 in price. In spite of this, the price is down -52.96% from the 52-week high.


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Insider Transactions

RELY stock investors should be aware that Remitly Global Inc. (RELY) stock had its last reported insider trading activity 30 days ago on Nov 29. In this transaction, the insider spent $53,955. Chief Operating Officer, Hug Joshua, disposed of 7,728 shares at a price of $10.30 on Nov 28. The insider now owns more than $79,625 worth of shares. Prior to that, EVP, Customer and Culture Yoakum Rene went on to Sale 5,971 shares at $10.00 each on Nov 10. An amount of $59,705 was transacted.

Valuation Metrics

Remitly Global Inc. (RELY) has a trailing price-to-sales (P/S) ratio at 2.85, the price-to-book (PB) ratio at 3.61.

Financial Health

The quick ratio of Remitly Global Inc. for the three months ended September 29 was 3.10, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending September 29. Its gross profit as reported stood at $221.47 million compared to revenue of $458.61 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Remitly Global Inc.’s return on assets was -16.60%.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$33.07 million in the quarter, while revenues of -$38.25 million were grew 100.0%. The analyst consensus anticipated Remitly Global Inc.’s latest quarter earnings to come in at -$0.14 per share, but it turned out to be -$0.2, a -42.90% surprise. For the quarter, EBITDA amounted to -$33.77 million. Shareholders own equity worth $170.66 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Remitly Global Inc. (RELY) price momentum. RSI 9-day as of the close on 28 December was 53.77%, suggesting the stock is Neutral, with historical volatility in this time frame at 53.22%.

As of today, RELY’s price is $9.68 +7.41% or $0.69 from its 5-day moving average. RELY is currently trading +1.32% higher than its 20-day SMA and -10.95% lower than its 100-day SMA. However, the stock’s current price level is -3.10% below the SMA50 and +16.96% above the SMA200.

The stochastic %K and %D were 35.69% and 32.35%, respectively, and the average true range (ATR) was 0.55. With the 14-day stochastic at 46.90% and the average true range at 0.56, the RSI (14) stands at 50.09%. The stock has reached 0.18 on the 9-day MACD Oscillator while the 14-day reading was at -0.12.

Analyst Ratings

The consensus rating for Remitly Global Inc. (RELY) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RELY, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 7 others rate it as a “buy”.

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