Rent the Runway (NASDAQ:RENT) Stock Passes Above 200-Day Moving Average – Here’s Why

by · The Markets Daily

Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.22 and traded as high as $8.82. Rent the Runway shares last traded at $8.65, with a volume of 138,070 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on RENT. Weiss Ratings restated a “sell (d)” rating on shares of Rent the Runway in a research note on Monday. Wall Street Zen raised shares of Rent the Runway from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rent the Runway currently has a consensus rating of “Reduce”.

Check Out Our Latest Research Report on Rent the Runway

Rent the Runway Stock Performance

The stock’s 50 day simple moving average is $5.63 and its 200 day simple moving average is $5.26. The firm has a market cap of $264.11 million, a PE ratio of -2.71 and a beta of 1.33.

Rent the Runway (NASDAQ:RENT – Get Free Report) last posted its quarterly earnings data on Friday, December 12th. The company reported ($3.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.87) by $1.33. The company had revenue of $87.60 million for the quarter, compared to the consensus estimate of $73.80 million. As a group, analysts anticipate that Rent the Runway, Inc. will post -18.61 earnings per share for the current year.

Hedge Funds Weigh In On Rent the Runway

Several institutional investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new stake in Rent the Runway in the 3rd quarter worth approximately $109,000. Park Avenue Securities LLC bought a new position in Rent the Runway during the third quarter valued at approximately $136,000. Finally, Quinn Opportunity Partners LLC purchased a new position in shares of Rent the Runway during the third quarter worth approximately $421,000. 73.10% of the stock is currently owned by institutional investors.

About Rent the Runway

(Get Free Report)

Rent the Runway (NASDAQ: RENT) operates an online marketplace and subscription service that provides designer apparel and accessory rentals to consumers. The company offers both one-time rentals and tiered subscription plans, enabling members to borrow items on a recurring basis rather than purchasing them outright. Rent the Runway’s inventory spans a wide range of brands and styles, including evening gowns, everyday wear, handbags and jewelry, positioning the company within the broader sharing-economy and circular-fashion movements.

Founded in 2009 by Jennifer Hyman and Jennifer Fleiss, Rent the Runway was built on the premise of making high-end fashion more accessible and sustainable.

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