Remitly Global Inc’s recently made public that its Chief Executive Officer Oppenheimer Matthew B. unloaded Company’s shares for reported $0.57 million on Oct 17 ’24. In the deal valued at $14.22 per share,40,119 shares were sold. As a result of this transaction, Oppenheimer Matthew B. now holds 4,542,613 shares worth roughly $87.94 million.
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Then, Oppenheimer Matthew B. sold 10,416 shares, generating $155,928 in total proceeds. Upon selling the shares at $14.97, the Chief Executive Officer now owns 4,532,197 shares.
Before that, Hug Joshua sold 22,018 shares. Remitly Global Inc shares valued at $301,867 were divested by the Vice Chair at a price of $13.71 per share. As a result of the transaction, Hug Joshua now holds 3,873,811 shares, worth roughly $75.0 million.
Wells Fargo upgraded its Remitly Global Inc [RELY] rating to an Equal weight from a an Underweight in a research note published on October 31, 2024; the price target was increased to $18 from $13. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who increased its forecast for the stock in late February from “a Market perform” to “an Outperform”. Wells Fargo began covering RELY with “an Underweight” recommendation on January 17, 2024. BMO Capital Markets started covering the stock on December 05, 2023. It rated RELY as “a Market perform”.
Price Performance Review of RELY
On Tuesday, Remitly Global Inc [NASDAQ:RELY] saw its stock jump 2.27% to $19.36. Over the last five days, the stock has gained 29.85%. Remitly Global Inc shares have fallen nearly -0.31% since the year began. Nevertheless, the stocks have risen 1.89% over the past one year. While a 52-week high of $23.01 was reached on 02/22/24, a 52-week low of $11.60 was recorded on 06/20/24. SMA at 50 days reached $14.25, while 200 days put it at $15.68.
Levels Of Support And Resistance For RELY Stock
The 24-hour chart illustrates a support level at 18.78, which if violated will result in even more drops to 18.21. On the upside, there is a resistance level at 19.72. A further resistance level may holdings at 20.09. The Relative Strength Index (RSI) on the 14-day chart is 85.45, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.90, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.87%. Stochastics %K at 81.36% indicates the stock is a selling.
How much short interest is there in Remitly Global Inc?
A steep rise in short interest was recorded in Remitly Global Inc stocks on 2024-10-15, dropping by -1.39 million shares to a total of 9.85 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 11.24 million shares. There was a decline of -14.1%, which implies that there is a negative sentiment for the stock.
