Rent the Runway Inc.’s recently made public that its Chief Financial Officer Thacker Siddharth unloaded Company’s shares for reported $57363.0 on Aug 02. In the deal valued at $1.66 per share,34,475 shares were sold. As a result of this transaction, Thacker Siddharth now holds 719,264 shares worth roughly $ 1.03 million.
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Then, Donato Brian sold 12,681 shares, generating $21,127 in total proceeds. Upon selling the shares at $1.67, the Chief Revenue Officer now owns 729,011 shares.
Before that, Hyman Jennifer sold 9,386 shares. Rent the Runway Inc. shares valued at $15,617 were divested by the CEO & Chair at a price of $1.66 per share. As a result of the transaction, Hyman Jennifer now holds 3,090,506 shares, worth roughly $4.42 million.
Wolfe Research initiated its Rent the Runway Inc. [RENT] rating to a Peer perform in a research note published on Friday.
Price Performance Review of RENT
On Friday, Rent the Runway Inc. [NASDAQ:RENT] saw its stock jump 3.62% to $1.43. On the same session, the stock had its day’s lowest price of $1.41, but rose to a high of $1.47. Over the last five days, the stock has gained 10.00%. Rent the Runway Inc. shares have fallen nearly -53.11% since the year began. Nevertheless, the stocks have fallen -67.87% over the past one year. While a 52-week high of $5.00 was reached on 02/02/23, a 52-week low of $1.10 was recorded on 08/25/23. SMA at 50 days reached $1.6912, while 200 days put it at $2.5578. A total of 0.4 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For RENT Stock
The 24-hour chart illustrates a support level at 1.4033, which if violated will result in even more drops to 1.3767. On the upside, there is a resistance level at 1.4633. A further resistance level may holdings at 1.4967. The Relative Strength Index (RSI) on the 14-day chart is 41.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0331, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.04%. Stochastics %K at 51.56% indicates the stock is a holding.
How much short interest is there in Rent the Runway Inc.?
A steep rise in short interest was recorded in Rent the Runway Inc. stocks on Aug 14, 2023, dropping by -0.22 million shares to a total of 6.6 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.82 million shares. There was a decline of -3.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.17% of the overall stock float, the days-to-cover ratio (short ratio) fell to 11.08.
According to FactSet, Rent the Runway Inc.’s share price will average $5.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 334.78 percent from its previous closing price of $1.38. Analysts expect Rent the Runway Inc. stock to reach the higher price of $8.00, while the lowest price estimate is $3.50. However, 10 analysts have rated RENT stock as an Overweight in their predictions for 2023.