Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rent the Runway Inc shares valued at $54,019 were sold by Hyman Jennifer on Mar 18 ’24. At $0.35 per share, Hyman Jennifer sold 155,405 shares. The insider’s holdings dropped to 3,389,723 shares worth approximately $25.08 million following the completion of this transaction.
Also, Tam Sarah K sold 48,585 shares, netting a total of over 16,888 in proceeds. Following the sale of shares at $0.35 each, the insider now holds 715,844 shares.
Before that, Schembri Cara had sold 47,419 shares from its account. In a trade valued at $16,483, the Chief Legal & Admin. Officer traded Rent the Runway Inc shares for $0.35 each. Upon closing the transaction, the insider’s holdings decreased to 47,419 shares, worth approximately $4.81 million.
As published in a research note from Piper Sandler on January 17, 2024, Rent the Runway Inc [RENT] has been rated down from an Overweight to a Neutral. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid January. As of December 15, 2022, Wolfe Research has initiated its “Peer perform” rating for RENT. Earlier on September 13, 2022, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for RENT stock which previously was a “an Outperform”.
Analyzing RENT Stock Performance
During the last five days, there has been a surge of approximately 25.85%. Over the course of the year, Rent the Runway Inc shares have dropped approximately -29.86%. Shares of the company reached a 52-week high of $15.92 on 01/09/24 and a 52-week low of $4.46 on 04/05/24. A 50-day SMA is recorded $8.20, while a 200-day SMA reached $16.99. Nevertheless, trading volume fell to 3.6 million shares from 71900.0 shares the previous day.
Support And Resistance Levels for Rent the Runway Inc (RENT)
According to the 24-hour chart, there is a support level at 5.58, which, if violated, would cause prices to drop to 3.77. In the upper region, resistance lies at 8.73. The next price resistance is at 10.07. RSI (Relative Strength Index) is 54.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 22.43%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rent the Runway Inc subject to short interest?
Stocks of Rent the Runway Inc saw a sharp steep in short interest on Mar 28, 2024 dropping by 23910.0 shares to 0.35 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 0.38 million shares. A decline of -6.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.58 of the overall float, the days-to-cover ratio (short ratio) decline to 11.58.
