RealReal (NASDAQ:REAL) Shares Down 3.9% – Here’s Why

The RealReal, Inc. (NASDAQ:REAL) was down 3.9% during trading on Friday . The stock traded as low as $11.19 and last traded at $11.20. 1,342,727 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 3,339,432 shares. The stock had previously closed at $11.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on REAL shares. Weiss Ratings restated a “sell (d-)” rating on shares of RealReal in a research report on Friday, July 17th. Robert W. Baird set a $13.00 price target on RealReal in a report on Friday, May 8th. BTIG Research reiterated a “buy” rating and issued a $17.00 price objective on shares of RealReal in a research report on Wednesday, June 3rd. Roth Capital reiterated a “buy” rating and issued a $19.00 price objective on shares of RealReal in a research report on Friday, August 7th. Finally, UBS Group boosted their price objective on RealReal from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, RealReal has an average rating of “Moderate Buy” and a consensus price target of $17.75.

RealReal Price Performance

The business’s 50 day simple moving average is $11.66 and its 200-day simple moving average is $10.96. The stock has a market capitalization of $1.35 billion, a P/E ratio of -9.93 and a beta of 2.69.

RealReal (NASDAQ:REAL) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.02) by $0.01. The business had revenue of $192.57 million for the quarter, compared to the consensus estimate of $188.11 million. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts anticipate that The RealReal, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Trading of RealReal

Institutional investors and hedge funds have recently modified their holdings of the stock. Angeles Wealth Management LLC acquired a new position in RealReal during the second quarter valued at approximately $1,290,000. Hsbc Holdings PLC boosted its position in shares of RealReal by 37.4% during the second quarter. Hsbc Holdings PLC now owns 51,907 shares of the company’s stock worth $619,000 after purchasing an additional 14,128 shares in the last quarter. Cannell Capital LLC bought a new position in shares of RealReal during the second quarter worth $271,630,000. Bank of America Corp DE bought a new position in shares of RealReal during the second quarter worth $12,655,000. Finally, Fund 1 Investments LLC acquired a new position in shares of RealReal in the 2nd quarter valued at $1,681,000. 64.73% of the stock is owned by institutional investors.

RealReal Company Profile

The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.

At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.