In the latest trading session, 0.55 million Rent the Runway Inc (NASDAQ:RENT) shares changed hands as the company’s beta touched 0.84. With the company’s most recent per share price at $0.33 changed hands at -$0.01 or -3.13% at last look, the market valuation stands at $23.07M. RENT’s current price is a discount, trading about -948.48% off its 52-week high of $3.46. The share price had its 52-week low at $0.31, which suggests the last value was 6.06% up since then. When we look at Rent the Runway Inc’s average trading volume, we note the 10-day average is 0.39 million shares, with the 3-month average coming to 856.26K.
Rent the Runway Inc (NASDAQ:RENT) trade information
Instantly RENT was in red as seen in intraday trades today. With action -6.25%, the performance over the past five days has been red. The drop to weekly highs of 0.3700 subtracted -3.13% to the stock’s daily price. The company’s shares are showing year-to-date downside of -37.19%, with the 5-day performance at -6.25% in the red. However, in the 30-day time frame, Rent the Runway Inc (NASDAQ:RENT) is -20.01% down. Looking at the short shares, we see there were 7.53 million shares sold at short interest cover period of 12.8 days.
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 -52.60% over the past 6 months, a 23.67% in annual growth rate that is considerably higher than the industry average of 6.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Rent the Runway Inc will rise 27.50%, while the growth in revenue is estimated to hit 39.10% for the next quarter.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $74.26 million. 4 analysts are of the opinion that Rent the Runway Inc’s revenue for the quarter ending Apr 2024 will be $75.98 million. The company’s revenue for the corresponding quarters a year ago was $75.4 million and $73.19 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.50%. The estimates for the next quarter sales put growth at 3.80%. The 2024 estimates are for Rent the Runway Inc earnings to increase by 33.02%.
Rent the Runway Inc (NASDAQ:RENT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 21.28% of Rent the Runway Inc shares while 62.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.00%. There are 62.98% 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.
