Checking in on Rent the Runway Inc (RENT) after recent insiders movement

Rent the Runway Inc’s filing revealed that its Chair, CEO & President Hyman Jennifer unloaded Company’s shares for reported $4539.0 on Feb 06. In the deal valued at $0.49 per share,9,287 shares were sold. As a result of this transaction, Hyman Jennifer now holds 2,645,128 shares worth roughly $1.3 million.

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Then, Hyman Jennifer sold 73,379 shares, generating $35,714 in total proceeds. Upon selling the shares at $0.49, the Chair, CEO & President now owns 2,645,128 shares.

Before that, Case Becky sold 20,225 shares. Rent the Runway Inc shares valued at $9,844 were divested by the SVP, Engineering at a price of $0.49 per share. As a result of the transaction, Case Becky now holds 354,673 shares, worth roughly $0.17 million.

Piper Sandler downgraded its Rent the Runway Inc [RENT] rating to a Neutral from a an Overweight in a research note published on Tuesday.

Price Performance Review of RENT

On Tuesday, Rent the Runway Inc [NASDAQ:RENT] saw its stock fall -4.77% to $0.49. Over the last five days, the stock has lost -7.91%. Rent the Runway Inc shares have fallen nearly -7.30% since the year began. Nevertheless, the stocks have fallen -86.53% over the past one year. While a 52-week high of $4.21 was reached on 01/09/24, a 52-week low of $0.42 was recorded on 01/04/24. SMA at 50 days reached $0.6108, while 200 days put it at $1.2261. A total of 0.32 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For RENT Stock

The 24-hour chart illustrates a support level at 0.4700, which if violated will result in even more drops to 0.4510. On the upside, there is a resistance level at 0.5190. A further resistance level may holdings at 0.5490. The Relative Strength Index (RSI) on the 14-day chart is 40.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0470, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.90%. Stochastics %K at 18.34% indicates the stock is a buying.

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 Jan 31, 2024, growing by 0.7 million shares to a total of 6.95 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 6.25 million shares. There was a rise of 10.07%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.27.

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