Rent the Runway (NASDAQ:RENT) Releases Quarterly Earnings Results

by · The Cerbat Gem

Rent the Runway (NASDAQ:RENT – Get Free Report) announced its quarterly earnings results on Friday. The company reported ($3.54) earnings per share (EPS) for the quarter, Zacks reports.

Rent the Runway Trading Up 14.8%

Shares of RENT stock traded up $0.83 during trading hours on Friday, hitting $6.46. 606,566 shares of the company’s stock were exchanged, compared to its average volume of 100,817. The company has a market capitalization of $26.62 million, a PE ratio of -0.30 and a beta of 1.33. Rent the Runway has a 12-month low of $3.69 and a 12-month high of $10.11. The business’s 50 day simple moving average is $4.66 and its 200-day simple moving average is $5.07.

Hedge Funds Weigh In On Rent the Runway

A hedge fund recently bought a new stake in Rent the Runway stock. Two Sigma Investments LP purchased a new position in Rent the Runway, Inc. (NASDAQ:RENT – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,089 shares of the company’s stock, valued at approximately $109,000. Two Sigma Investments LP owned about 0.54% of Rent the Runway as of its most recent SEC filing. 73.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RENT has been the topic of a number of analyst reports. Wall Street Zen raised shares of Rent the Runway from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rent the Runway in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rent the Runway currently has a consensus rating of “Reduce”.

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Rent the Runway Company Profile

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Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.

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