Rent the Runway (NASDAQ:RENT) Shares Pass Above 200 Day Moving Average – Time to Sell?

Rent the Runway, Inc. (NASDAQ:RENT)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.17 and traded as high as $9.30. Rent the Runway shares last traded at $8.75, with a volume of 1,460,227 shares changing hands.

Wall Street Analysts Forecast Growth

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

Rent the Runway Price Performance

The company has a 50-day moving average of $5.04 and a 200 day moving average of $5.17. The company has a market cap of $36.05 million, a PE ratio of -3.00 and a beta of 1.33.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Friday, December 12th. The company reported ($3.54) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities research analysts expect that Rent the Runway, Inc. will post -18.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quinn Opportunity Partners LLC purchased a new position in shares of Rent the Runway during the third quarter worth approximately $421,000. Park Avenue Securities LLC purchased a new stake in shares of Rent the Runway in the third quarter valued at approximately $136,000. Finally, Two Sigma Investments LP bought a new position in Rent the Runway in the third quarter worth approximately $109,000. Institutional investors own 73.10% of the company’s stock.

About Rent the Runway

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.