Remitly Global Inc [NASDAQ: RELY] traded at a high on Tuesday, posting a 0.47 gain after which it closed the day’ session at $12.74.
The results of the trading session contributed to over 2224407 shares changing hands. Over the past one week, the price volatility of Remitly Global Inc stands at 3.20% while the volatility over the past one month is 3.28%.
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The market cap for RELY stock reached $2.45 billion, with 188.44 million shares outstanding and 139.91 million shares in the current float. Compared to the average trading volume of 2.07M shares, RELY reached a trading volume of 2224407 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Remitly Global Inc [RELY]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RELY shares is $20.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RELY stock is a recommendation set at 1.92. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BMO Capital Markets have made an estimate for Remitly Global Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 22, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Underweight. The new note on the price target was released on January 17, 2024, representing the official price target for Remitly Global Inc stock. Previously, the target price had yet another raise to $25, while BMO Capital Markets analysts kept a Market Perform rating on RELY stock.
The Average True Range (ATR) for Remitly Global Inc is set at 0.44, with the Price to Sales ratio for RELY stock in the period of the last 12 months amounting to 2.43. The Price to Book ratio for the last quarter was 4.46, with the Price to Cash per share for the same quarter was set at 1.50.
How has RELY stock performed recently?
Remitly Global Inc [RELY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.55. With this latest performance, RELY shares dropped by -5.70% in over the last four-week period, additionally sinking by -31.51% over the last 6 months – not to mention a drop of -29.77% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RELY stock in for the last two-week period is set at 48.15, with the RSI for the last a single of trading hit 57.94, and the three-weeks RSI is set at 41.94 for Remitly Global Inc [RELY]. The present Moving Average for the last 50 days of trading for this stock 13.65, while it was recorded at 12.63 for the last single week of trading, and 18.98 for the last 200 days.
Insider trade positions for Remitly Global Inc [RELY]
The top three institutional holders of RELY stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in RELY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in RELY stock with ownership which is approximately 5.1238%.
