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

by · The Cerbat Gem

Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.07 and traded as high as $6.40. Rent the Runway shares last traded at $5.63, with a volume of 375,659 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RENT. Weiss Ratings reissued a “sell (e+)” rating on shares of Rent the Runway in a research report on Wednesday, October 8th. Wall Street Zen raised Rent the Runway from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Get Our Latest Research Report on RENT

Rent the Runway Stock Up 18.1%

The stock has a market capitalization of $27.40 million, a P/E ratio of -2.28 and a beta of 1.33. The business has a fifty day moving average price of $4.68 and a 200-day moving average price of $5.08.

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

Hedge Funds Weigh In On Rent the Runway

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in Rent the Runway in the 1st quarter worth $52,000. Quinn Opportunity Partners LLC bought a new stake in shares of Rent the Runway in the third quarter worth about $421,000. Two Sigma Investments LP purchased a new stake in shares of Rent the Runway in the third quarter worth about $109,000. Finally, Park Avenue Securities LLC bought a new position in Rent the Runway during the third quarter valued at approximately $136,000. Institutional investors own 73.10% of the company’s stock.

Rent the Runway Company Profile

(Get Free Report)

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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