Rent the Runway (NASDAQ:RENT) Raised to Hold at Wall Street Zen

Rent the Runway (NASDAQ:RENT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Rent the Runway Stock Performance

NASDAQ:RENT opened at $5.61 on Friday. The firm has a market capitalization of $22.33 million, a PE ratio of -0.29 and a beta of 1.38. The stock has a 50 day moving average of $4.92 and a 200-day moving average of $5.19. Rent the Runway has a 52 week low of $3.69 and a 52 week high of $15.63.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Thursday, June 5th. The company reported ($6.58) EPS for the quarter, beating the consensus estimate of ($7.43) by $0.85. The company had revenue of $69.60 million for the quarter, compared to the consensus estimate of $68.70 million. Rent the Runway has set its Q2 2025 guidance at EPS. As a group, analysts predict that Rent the Runway will post -18.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Rent the Runway

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of 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 valued at $202,000 after buying an additional 6,785 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Rent the Runway during the 1st quarter valued at $46,000. XTX Topco Ltd acquired a new position in shares of Rent the Runway in the first quarter worth $52,000. Connective Capital Management LLC acquired a new position in shares of Rent the Runway in the fourth quarter worth $183,000. Finally, CastleKnight Management LP boosted its holdings 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 in the last quarter. 73.10% of the stock is currently owned by institutional investors and hedge funds.

About Rent the Runway

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.