In the last trading session, 1.65 million Rent the Runway Inc. (NASDAQ:RENT) shares changed hands as the company’s beta touched 0.75. With the company’s per share price at $0.82 changed hands at -$0.04 or -4.26% during last session, the market valuation stood at $59.27M. RENT’s last price was a discount, traded about -487.8% off its 52-week high of $4.82. The share price had its 52-week low at $0.86, which suggests the last value was -4.88% down since then. When we look at Rent the Runway Inc.’s average trading volume, we note the 10-day average is 2.1 million shares, with the 3-month average coming to 890.11K.
Analysts gave the Rent the Runway Inc. (RENT) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 4 recommended RENT as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Rent the Runway Inc.’s EPS for the current quarter is expected to be -$0.44.
Rent the Runway Inc. (NASDAQ:RENT) trade information
Instantly RENT was in red as seen at the end of in last trading. With action -13.33%, the performance over the past five days has been red. The drop to weekly highs of 0.9600 on Monday, 09/18/23 subtracted -4.26% to the stock’s daily price. The company’s shares are showing year-to-date downside of -73.00%, with the 5-day performance at -13.33% in the red. However, in the 30-day time frame, Rent the Runway Inc. (NASDAQ:RENT) is -39.46% down. Looking at the short shares, we see there were 6.59 million shares sold at short interest cover period of 11.55 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.94, meaning bulls need an upside of 72.11% from its current market value. According to analyst projections, RENT’s forecast low is $1.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -509.76% plunge from its current level, while the stock would need to soar -21.95% for it to hit the projected low.
Rent the Runway Inc. (RENT) estimates and forecasts
Data shows that the Rent the Runway Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -68.09% over the past 6 months, a 19.81% in annual growth rate that is considerably higher than the industry average of -4.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Rent the Runway Inc. will rise 21.40%, while the growth in revenue is estimated to hit 10.00% for the next quarter. Year-over-year growth is forecast to reach 0.10% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $73.07 million. 8 analysts are of the opinion that Rent the Runway Inc.’s revenue for the quarter ending Jan 2024 will be $73.57 million. The estimates for the next quarter sales put growth at -2.40%.
The 2023 estimates are for Rent the Runway Inc. earnings to increase by 35.80%.
Rent the Runway Inc. is expected to release its next quarterly earnings report between December 07 and December 11.
Rent the Runway Inc. (NASDAQ:RENT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.15% of Rent the Runway Inc. shares while 78.05% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.98%. There are 78.05% institutions holding the Rent the Runway Inc. stock share, with Bain Capital Venture Investors, LLC the top institutional holder. As of Jun 29, 2023, the company held 12.42% of the shares, roughly 8.18 million RENT shares worth $16.19 million.
Divisar Capital Management LLC holds the second largest percentage of outstanding shares, with 7.04% or 4.63 million shares worth $9.17 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Small-Cap Value Fund and Vanguard Total Stock Market Index Fund. With 2.98 million shares estimated at $5.9 million under it, the former controlled 4.52% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.46% of the shares, roughly 1.62 million shares worth around $3.2 million.