Remitly Global Inc (NASDAQ:RELY) shares, rose in value, with the stock price up by 1.28% to the previous day’s close as strong demand from buyers drove the stock to $24.47.
Actively observing the price movement in the recent trading, the stock is buoying the session at $24.16. Referring to stock’s 52-week performance, its high was $27.32, and the low was $11.60. On the whole, RELY has fluctuated by 20.19% over the past month.
With the market capitalization of Remitly Global Inc currently standing at about $4.99 billion, investors are eagerly awaiting this quarter’s results, scheduled for in June.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RELY’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 25% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of RELY currently trading nearly 18.61% and 18.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 76.76, while the 7-day volatility ratio is showing 4.30% which for the 30-day chart, stands at 4.01%. Furthermore, Remitly Global Inc (RELY)’s beta value is 0.18, and its average true range (ATR) is 0.98.
A comparison of Remitly Global Inc (RELY) with its peers suggests the former has fared considerably weaker in the market. RELY showed an intraday change of 1.28% in today’s session so far, and over the past year, it grew by 60.78%%.
Data on historical trading for Remitly Global Inc (NASDAQ:RELY) indicates that the trading volumes over the past 3 months, they’ve averaged 2.54 million. According to company’s latest data on outstanding shares, there are 203.83 million shares outstanding.
Nearly 25.51% of Remitly Global Inc’s shares belong to company insiders and institutional investors own 58.67% of the company’s shares. The stock has risen by 8.42% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RELY stock heading into the next quarter.
