Rent the Runway Inc. [RENT] Stock trading around $2.37 per share: What’s Next?

Rent the Runway Inc. [NASDAQ: RENT] traded at a high on 12/08/22, posting a 74.26 gain after which it closed the day’ session at $2.37. The company report on December 7, 2022 that Rent the Runway, Inc. Announces Third Quarter 2022 Results & Raises Guidance.

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Achieved record quarterly Revenue: Q3 2022 Revenue up 31% YoY.

Significant progression in Gross Margin to 41%, up 7 percentage points YoY.

The results of the trading session contributed to over 47328685 shares changing hands. Over the past one week, the price volatility of Rent the Runway Inc. stands at 21.14% while the volatility over the past one month is 13.99%.

The market cap for RENT stock reached $159.07 million, with 64.08 million shares outstanding and 58.84 million shares in the current float. Compared to the average trading volume of 1.17M shares, RENT reached a trading volume of 47328685 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Rent the Runway Inc. [RENT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RENT shares is $6.45 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RENT stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Rent the Runway Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 13, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on July 22, 2022, representing the official price target for Rent the Runway Inc. stock.

The Average True Range (ATR) for Rent the Runway Inc. is set at 0.22, with the Price to Sales ratio for RENT stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 21.55, with the Price to Cash per share for the same quarter was set at 2.87.

How has RENT stock performed recently?

Rent the Runway Inc. [RENT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 72.99. With this latest performance, RENT shares gained by 42.77% in over the last four-week period, additionally sinking by -32.86% over the last 6 months – not to mention a drop of -79.39% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RENT stock in for the last two-week period is set at 73.06, with the RSI for the last a single of trading hit 84.09, and the three-weeks RSI is set at 63.35 for Rent the Runway Inc. [RENT]. The present Moving Average for the last 50 days of trading for this stock 1.7300, while it was recorded at 1.5500 for the last single week of trading, and 3.9500 for the last 200 days.

Rent the Runway Inc. [RENT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Rent the Runway Inc. [RENT] shares currently have an operating margin of -60.01 and a Gross Margin at +4.38. Rent the Runway Inc.’s Net Margin is presently recorded at -104.18.

Rent the Runway Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.

Insider trade positions for Rent the Runway Inc. [RENT]

There are presently around $105 million, or 76.50% of RENT stock, in the hands of institutional investors. The top three institutional holders of RENT stocks are: BAIN CAPITAL VENTURE INVESTORS, LLC with ownership of 8,176,418, which is approximately 0% of the company’s market cap and around 5.30% of the total institutional ownership; TECHNOLOGY CROSSOVER MANAGEMENT VIII, LTD., holding 3,949,669 shares of the stock with an approximate value of $9.36 million in RENT stocks shares; and ARES MANAGEMENT LLC, currently with $8.03 million in RENT stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Rent the Runway Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 47 institutional holders increased their position in Rent the Runway Inc. [NASDAQ:RENT] by around 8,125,293 shares. Additionally, 30 investors decreased positions by around 14,402,509 shares, while 24 investors held positions by with 21,728,022 shares. The mentioned changes placed institutional holdings at 44,255,824 shares, according to the latest SEC report filing. RENT stock had 17 new institutional investments in for a total of 5,281,670 shares, while 10 institutional investors sold positions of 3,052,373 shares during the same period.


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