Rent the Runway (NASDAQ:RENT) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Rent the Runway, Inc. (NASDAQ:RENT) passed 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.

Analyst Ratings Changes

RENT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Rent the Runway in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Rent the Runway from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Two equities 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, Rent the Runway presently has a consensus rating of “Reduce”.

Rent the Runway Stock Performance

The firm has a market capitalization of $209.36 million, a P/E ratio of -2.15 and a beta of 1.26. The business has a fifty day moving average of $7.58 and a 200-day moving average of $5.89.

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

Hedge Funds Weigh In On Rent the Runway

Large investors have recently bought and sold shares of the stock. Park Avenue Securities LLC bought a new stake in shares of Rent the Runway during the 3rd quarter worth about $136,000. Quinn Opportunity Partners LLC acquired a new position in shares of Rent the Runway during the third quarter valued at approximately $421,000. Two Sigma Investments LP bought a new stake in Rent the Runway during the third quarter worth approximately $109,000. Romano Brothers AND Company bought a new stake in Rent the Runway during the fourth quarter worth approximately $87,000. Finally, Geode Capital Management LLC lifted its position in Rent the Runway by 1,044.4% in the fourth quarter. Geode Capital Management LLC now owns 284,372 shares of the company’s stock worth $2,251,000 after purchasing an additional 259,522 shares during the period. Institutional investors and hedge funds own 73.10% of the company’s stock.

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.