Rent the Runway (NASDAQ:RENT) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Rent the Runway, Inc. (NASDAQ:RENT) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.34 and traded as high as $8.40. Rent the Runway shares last traded at $7.99, with a volume of 166,862 shares.

Analyst Upgrades and Downgrades

RENT has been the subject of several recent research reports. Wall Street Zen raised Rent the Runway from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Rent the Runway in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rent the Runway has an average rating of “Reduce”.

Rent the Runway Trading Down 1.7%

The firm has a market capitalization of $266.79 million, a price-to-earnings ratio of -2.74 and a beta of 1.26. The stock has a fifty day moving average price of $5.91 and a 200-day moving average price of $5.34.

Rent the Runway (NASDAQ:RENT) last announced its quarterly earnings results on Friday, December 12th. The company reported ($3.54) 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 analyst estimates of $73.80 million. On average, equities analysts expect that Rent the Runway, Inc. will post -18.61 EPS for the current year.

Institutional Investors Weigh In On Rent the Runway

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

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.