Rent the Runway (NASDAQ:RENT) Lowered to Sell Rating by Wall Street Zen

Rent the Runway (NASDAQ:RENT) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Rent the Runway Price Performance

Shares of RENT stock opened at $5.50 on Friday. Rent the Runway has a 12-month low of $3.69 and a 12-month high of $15.41. The firm has a market capitalization of $21.89 million, a price-to-earnings ratio of -0.29 and a beta of 1.39. The business has a 50 day simple moving average of $4.99 and a 200 day simple moving average of $5.12.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($6.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($7.43) by $0.85. The business had revenue of $69.60 million during the quarter, compared to the consensus estimate of $68.70 million. Rent the Runway has set its Q2 2025 guidance at EPS. On average, equities analysts anticipate that Rent the Runway will post -18.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Rent the Runway

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new position in Rent the Runway in the 1st quarter worth approximately $46,000. XTX Topco Ltd bought a new position in Rent the Runway in the 1st quarter worth approximately $52,000. Connective Capital Management LLC bought a new position in Rent the Runway in the 4th quarter worth approximately $183,000. Bank of America Corp DE lifted its position in Rent the Runway by 40.0% in the fourth quarter. Bank of America Corp DE now owns 23,755 shares of the company’s stock worth $202,000 after purchasing an additional 6,785 shares during the period. Finally, CastleKnight Management LP lifted its position in Rent the Runway by 51.7% in the fourth quarter. CastleKnight Management LP now owns 230,562 shares of the company’s stock worth $1,960,000 after purchasing an additional 78,535 shares during the period. 73.10% of the stock is owned by institutional investors.

Rent the Runway 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.