Rent the Runway (NASDAQ:RENT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of Rent the Runway (NASDAQ:RENT) from a buy rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rent the Runway in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Rent the Runway presently has an average rating of “Reduce”.

Rent the Runway Stock Performance

Shares of RENT opened at $4.71 on Friday. The company has a 50 day moving average price of $7.08 and a 200-day moving average price of $5.95. Rent the Runway has a fifty-two week low of $3.69 and a fifty-two week high of $10.13. The stock has a market capitalization of $157.27 million, a PE ratio of -1.61 and a beta of 1.28.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Friday, December 12th. The company reported ($3.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.87) by $1.33. The business had revenue of $87.60 million for the quarter, compared to analysts’ expectations of $73.80 million. Equities research analysts forecast that Rent the Runway will post -18.61 EPS for the current year.

Institutional Investors Weigh In On Rent the Runway

Several institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in Rent the Runway in the 4th quarter worth approximately $117,000. Lazard Asset Management LLC acquired a new position in Rent the Runway during the 4th quarter valued at approximately $174,000. State Street Corp purchased a new position in shares of Rent the Runway in the fourth quarter worth $484,000. Jane Street Group LLC purchased a new position in shares of Rent the Runway in the fourth quarter worth $690,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Rent the Runway during the fourth quarter worth $218,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

About Rent the Runway

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.