Rent the Runway (NASDAQ:RENT) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Rent the Runway, Inc. (NASDAQ:RENT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Rent the Runway in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Rent the Runway Price Performance

The firm has a fifty day simple moving average of $5.48 and a 200-day simple moving average of $5.22. The firm has a market cap of $288.82 million, a P/E ratio of -2.96 and a beta of 1.33.

Rent the Runway (NASDAQ:RENT) last issued its earnings results on Friday, December 12th. The company reported ($3.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.87) by $1.33. The firm had revenue of $87.60 million for the quarter, compared to analyst estimates of $73.80 million. On average, equities analysts predict that Rent the Runway, Inc. will post -18.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP bought a new stake in shares of Rent the Runway during the third quarter worth about $109,000. Park Avenue Securities LLC acquired a new position in Rent the Runway during the 3rd quarter valued at about $136,000. Finally, Quinn Opportunity Partners LLC acquired a new position in Rent the Runway during the 3rd quarter valued at about $421,000. 73.10% of the stock is currently owned by institutional investors and hedge funds.

Rent the Runway Company Profile

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.