Remitly Global Inc. (NASDAQ:RELY) marked $17.79 per share on Wednesday, down from a previous closing price of $18.36. While Remitly Global Inc. has underperformed by -3.10%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RELY rose by 71.72%, with highs and lows ranging from $19.28 to $7.56, whereas the simple moving average jumped by 38.55% in the last 200 days.
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Analysis of Remitly Global Inc. (RELY)
Further, the quarter-over-quarter increase in sales is 49.90%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Remitly Global Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -24.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.10, 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.
An average volume of 1.09M can be a very valuable indicator of volatility for RELY stock. On a monthly basis, the volatility of the stock is set at 3.83%, whereas on a weekly basis, it is put at 3.33%, with a loss of -5.97% over the past seven days. Furthermore, long-term investors anticipate a median target price of $21.60, showing growth from the present price of $17.79, 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 the fundamentals, you should also consider how many employees own shares in the company. 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 2.50%. 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 71.80% 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. The Vanguard Group, Inc.’s position in RELY has increased by 15.32% in the first quarter. The company now owns 9,798,441 shares of the stock, with a value of $164.61 million, following the purchase of 1,301,442 additional shares during the last quarter. Generation Investment Management made another decreased to its shares in RELY during the first quarter, downing its stake by -16.39%. During the last quarter, the company picked up -1,814,883 additional shares for a total stake of worth $155.58 million, bringing number of shares owned by the company to 9,260,988.
During the first quarter, JPMorgan Investment Management, I added a 1,039,434 position in RELY. Baillie Gifford & Co. purchased an additional 4.77 million shares in the last quarter, increasing its holdings by 274.27%, now holding 6.51 million shares worth $109.3 million. At the end of the first quarter, BlackRock Fund Advisors decreased its RELY holdings by -2.73% and now holds 5.75 million RELY shares valued at $96.56 million with the lessened -0.16 million shares during the period. RELY shares are owned by institutional investors to the tune of 71.80% at present.
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