Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Remitly Global Inc shares valued at $301,867 were sold by Hug Joshua on Aug 29 ’24. At $13.71 per share, Hug Joshua sold 22,018 shares. The insider’s holdings dropped to 3,873,811 shares worth approximately $54.31 million following the completion of this transaction.
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Also, JOSHUA DAVID HUG purchased 22,018 shares, netting a total of over 295,261 in proceeds.
Before that, Oppenheimer Matthew B. had sold 52,080 shares from its account. In a trade valued at $738,494, the Chief Executive Officer traded Remitly Global Inc shares for $14.18 each. Upon closing the transaction, the insider’s holdings decreased to 52,080 shares, worth approximately $64.27 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 surge of approximately 9.28%. Over the course of the year, Remitly Global Inc shares have dropped approximately -27.81%. 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 $13.71, while a 200-day SMA reached $15.82. Nevertheless, trading volume fell to 0.81 million shares from 1.59 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 13.85, which, if violated, would cause prices to drop to 13.68. In the upper region, resistance lies at 14.14. The next price resistance is at 14.25. RSI (Relative Strength Index) is 59.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.57, which suggests the price will decrease in the coming days. Percent R is at 5.34%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
