In Wednesday’s session, Remitly Global Inc. (NASDAQ:RELY) marked $10.51 per share, up from $10.20 in the previous session. While Remitly Global Inc. has overperformed by 3.04%, investors are advised to look at stock chart patterns for technical insight.
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Analysis of Remitly Global Inc. (RELY)
Further, the quarter-over-quarter increase in sales is 49.30%, showing a positive trend in the upcoming months.
Remitly Global Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -17.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and RELY has an average volume of 1.42M. On a monthly basis, the volatility of the stock is set at 5.54%, whereas on a weekly basis, it is put at 6.12%, with a gain of 9.48% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.58, showing growth from the present price of $10.51, which can serve as yet another indication of whether RELY is worth investing in or should be passed over.
How Do You Analyze Remitly Global Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 56.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RELY shares?
The recent increase in stakes in RELY appears to be a result of several institutional investors and hedge funds increasing their positions. Generation Investment Management’s position in RELY has decreased by 0.00% in the first quarter. The company now owns 11,075,871 shares of the stock, with a value of $84.84 million, following the sale of 0 additional shares during the last quarter. JPMorgan Investment Management, I made another increased to its shares in RELY during the first quarter, upping its stake by 73.98%. During the last quarter, the company picked up 2,055,404 additional shares for a total stake of worth $37.03 million, bringing number of shares owned by the company to 4,833,694.
During the first quarter, Massachusetts Financial Services added a 716,601 position in RELY. Citadel Advisors LLC purchased an additional 2.12 million shares in the last quarter, increasing its holdings by 376.30%, now holding 2.69 million shares worth $20.57 million. At the end of the first quarter, Adage Capital Management LP increased its RELY holdings by 94.47% and now holds 2.25 million RELY shares valued at $17.23 million with the added 1.09 million shares during the period. RELY shares are owned by institutional investors to the tune of 56.90% at present.