Rent the Runway (NASDAQ:RENT) Rating Lowered to “Hold” at Wall Street Zen

Rent the Runway (NASDAQ:RENT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Rent the Runway in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rent the Runway presently has an average rating of “Reduce”.

Rent the Runway Stock Performance

Shares of RENT opened at $4.71 on Friday. The stock has a 50 day moving average price of $7.08 and a two-hundred day moving average price of $5.96. The firm has a market capitalization of $157.27 million, a P/E ratio of -1.61 and a beta of 1.28. Rent the Runway has a 52 week low of $3.69 and a 52 week high of $10.13.

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

Institutional Investors Weigh In On Rent the Runway

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Rent the Runway in the fourth quarter valued at approximately $88,000. XTX Topco Ltd purchased a new stake in Rent the Runway in the fourth quarter worth $131,000. Millennium Management LLC bought a new stake in shares of Rent the Runway in the fourth quarter valued at $117,000. Lazard Asset Management LLC bought a new stake in shares of Rent the Runway in the fourth quarter valued at $174,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Rent the Runway during the 4th quarter valued at $92,000. Institutional investors 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.