The stock of Rent the Runway Inc. (NASDAQ:RENT) last traded at $0.98, down -27.93% from the previous session.
Data from the available sources indicates that Rent the Runway Inc. (NASDAQ:RENT) is covered by 10 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $7.00 and a low of $3.00, we find $4.00. Given the previous closing price of $1.36, this indicates a potential upside of 194.12 percent. RENT stock price is now -40.75% away from the 50-day moving average and -61.65% away from the 200-day moving average. The market capitalization of the company currently stands at $91.61M.
In total, 2 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $4.69 as their price target over the next twelve months.
In other news, Rau Andrew, SVP, Supply Chain & Inventory sold 2,132 shares of the company’s stock on Sep 05. The stock was sold for $3,169 at an average price of $1.49. Upon completion of the transaction, the SVP, Supply Chain & Inventory now directly owns 282,026 shares in the company, valued at $0.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02, Chief Financial Officer Thacker Siddharth sold 34,475 shares of the business’s stock. A total of $57,363 was realized by selling the stock at an average price of $1.66. This leaves the insider owning 719,264 shares of the company worth $0.7 million. Insiders disposed of 874,188 shares of company stock worth roughly $0.86 million over the past 1 year. A total of 5.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RENT stock. A new stake in Rent the Runway Inc. shares was purchased by SQUAREPOINT OPS LLC during the first quarter worth $129,000. TRUE SIGNAL LP invested $35,000 in shares of RENT during the first quarter. In the first quarter, METLIFE INVESTMENT MANAGEMENT, LLC acquired a new stake in Rent the Runway Inc. valued at approximately $28,000. MOLONEY SECURITIES ASSET MANAGEMENT, LLC acquired a new stake in RENT for approximately $20,000. CAMBRIDGE INVESTMENT RESEARCH ADVISORS, INC. purchased a new stake in RENT valued at around $16,000 in the second quarter. In total, there are 129 active investors with 75.90% ownership of the company’s stock.
With an opening price of $1.0700 on Friday morning, Rent the Runway Inc. (NASDAQ: RENT) set off the trading day. During the past 12 months, Rent the Runway Inc. has had a low of $1.10 and a high of $5.00. The fifty day moving average price for RENT is $1.6350 and a two-hundred day moving average price translates $2.5540 for the stock.
The latest earnings results from Rent the Runway Inc. (NASDAQ: RENT) was released for Jul, 2023. The net profit margin was -45.70% and return on equity was 517.50% for RENT. The company reported revenue of $74.2 million for the quarter, compared to $67.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.58 percent.
Rent the Runway Inc.(RENT) Company Profile
Rent the Runway, Inc. operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering. It also engages in the software development and support activities. The company was incorporated in 2009 and is headquartered in Brooklyn, New York.
