Rent the Runway Inc (NASDAQ:RENT) shares traded 161.89% higher at $19.38 on Wall Street last session.
RENT stock price is now 136.43% away from the 50-day moving average and 14.04% away from the 200-day moving average. The market capitalization of the company currently stands at $68.80M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
, while ‘Wolfe Research’ rates the stock as ‘Peer Perform’
In other news, Hyman Jennifer, Chair, CEO & President sold 155,405 shares of the company’s stock on Mar 18 ’24. The stock was sold for $54,019 at an average price of $0.35. Upon completion of the transaction, the Chair, CEO & President now directly owns 3,389,723 shares in the company, valued at $65.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 18 ’24, Chief Merchant Officer Tam Sarah K sold 48,585 shares of the business’s stock. A total of $16,888 was realized by selling the stock at an average price of $0.35. This leaves the insider owning 715,844 shares of the company worth $13.87 million. A total of 57.56% of the company’s stock is owned by insiders.
During the past 12 months, Rent the Runway Inc has had a low of $4.46 and a high of $69.20. The fifty day moving average price for RENT is $8.33 and a two-hundred day moving average price translates $16.89 for the stock.
The latest earnings results from Rent the Runway Inc (NASDAQ: RENT) was released for Jan, 2024. According to the Apparel Retail Company, earnings per share came in at -$7.02, missing analysts’ expectations of -$6.53 by -0.49. This compares to -$0.56 EPS in the same period last year. The net profit margin was -37.96% and return on equity was -774.86% for RENT. The company reported revenue of $72.5 million for the quarter, compared to $77.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.33 percent. For the current quarter, analysts expect RENT to generate $74.95M in revenue.
