Rent the Runway (NASDAQ:RENT) Stock Rating Upgraded by Wall Street Zen

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

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

Rent the Runway Trading Down 7.1%

RENT stock opened at $8.04 on Friday. The firm has a 50 day moving average of $6.66 and a 200-day moving average of $5.55. The firm has a market capitalization of $268.46 million, a P/E ratio of -2.75 and a beta of 1.26. Rent the Runway has a 12 month low of $3.69 and a 12 month high of $10.13.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Friday, December 12th. The company reported ($3.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.87) by $1.33. The firm had revenue of $87.60 million for the quarter, compared to the consensus estimate of $73.80 million. Sell-side analysts predict that Rent the Runway will post -18.61 EPS for the current year.

Hedge Funds Weigh In On Rent the Runway

Several institutional investors have recently modified their holdings of the company. Romano Brothers AND Company bought a new stake in Rent the Runway in the 4th quarter worth approximately $87,000. Two Sigma Investments LP bought a new stake in shares of Rent the Runway in the 3rd quarter worth approximately $109,000. Park Avenue Securities LLC bought a new stake in shares of Rent the Runway in the 3rd quarter worth approximately $136,000. Finally, Quinn Opportunity Partners LLC purchased a new stake in shares of Rent the Runway in the 3rd quarter valued at $421,000. 73.10% of the stock is currently owned by institutional investors.

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.