Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $42.03 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 $8.07 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 67.57%. Over the course of the year, Rent the Runway Inc shares have jumped approximately 17.54%. Shares of the company reached a 52-week high of $28.90 on 04/12/24 and a 52-week low of $4.46 on 04/05/24. A 50-day SMA is recorded $8.61, while a 200-day SMA reached $16.40. Nevertheless, trading volume fell to 0.55 million shares from 3.61 million 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 11.37, which, if violated, would cause prices to drop to 10.34. In the upper region, resistance lies at 13.56. The next price resistance is at 14.72. RSI (Relative Strength Index) is 57.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.73, which suggests the price will increase in the coming days. Percent R is at 67.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
