Rent the Runway (NASDAQ:RENT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Rent the Runway, Inc. (NASDAQ:RENT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.89 and traded as high as $6.42. Rent the Runway shares last traded at $6.27, with a volume of 21,433 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on RENT. Wall Street Zen upgraded Rent the Runway from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings restated 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, the stock currently has a consensus rating of “Reduce”.

Rent the Runway Stock Down 1.3%

The company has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $5.89. The stock has a market cap of $209.36 million, a price-to-earnings ratio of -2.15 and a beta of 1.26.

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

Institutional Trading of Rent the Runway

A number of institutional investors and hedge funds have recently modified their holdings of RENT. Marshall Wace LLP acquired a new position in shares of Rent the Runway in the 4th quarter valued at about $84,000. Romano Brothers AND Company bought a new position in Rent the Runway in the fourth quarter worth about $87,000. Virtu Financial LLC bought a new position in Rent the Runway in the fourth quarter worth about $88,000. Renaissance Technologies LLC acquired a new position in Rent the Runway in the fourth quarter valued at approximately $89,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Rent the Runway during the fourth quarter valued at approximately $92,000. 73.10% of the stock is owned by institutional investors and hedge funds.

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.