The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Remitly Global Inc shares valued at $347,013 were sold by Hug Joshua on May 29 ’24. At $13.23 per share, Hug Joshua sold 26,239 shares. The insider’s holdings dropped to 3,873,631 shares worth approximately $51.17 million following the completion of this transaction.
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Also, Yoakum Rene sold 15,000 shares, netting a total of over 213,530 in proceeds. Following the sale of shares at $14.24 each, the insider now holds 81,137 shares.
Before that, Oppenheimer Matthew B. had sold 10,416 shares from its account. In a trade valued at $148,324, the Chief Executive Officer traded Remitly Global Inc shares for $14.24 each. Upon closing the transaction, the insider’s holdings decreased to 10,416 shares, worth approximately $61.25 million.
As published in a research note from BMO Capital Markets on February 22, 2024, Remitly Global Inc [RELY] has been rated up from a Market perform to an Outperform and the price target has been revised to $28 from $24. Analysts at Wells Fargo started covering the stock with ‘”an Underweight”‘ outlook in a report released in mid January. As of December 05, 2023, BMO Capital Markets has initiated its “Market perform” rating for RELY. Earlier on December 01, 2023, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for RELY stock which previously was a “an Outperform”.
Analyzing RELY Stock Performance
During the last five days, there has been a drop of approximately -0.53%. Over the course of the year, Remitly Global Inc shares have dropped approximately -31.98%. Shares of the company reached a 52-week high of $22.08 on 02/22/24 and a 52-week low of $11.60 on 06/20/24. A 50-day SMA is recorded $12.98, while a 200-day SMA reached $18.03. Nevertheless, trading volume fell to 2.89 million shares from 1.85 million shares the previous day.
Support And Resistance Levels for Remitly Global Inc (RELY)
According to the 24-hour chart, there is a support level at 12.98, which, if violated, would cause prices to drop to 12.74. In the upper region, resistance lies at 13.50. The next price resistance is at 13.79. RSI (Relative Strength Index) is 49.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.01, which suggests the price will decrease in the coming days. Percent R is at 71.77%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
