Rent the Runway (NASDAQ:RENT) Stock Rating Lowered by Citizens Jmp

Citizens Jmp lowered shares of Rent the Runway (NASDAQ:RENT) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Citigroup lowered shares of Rent the Runway to a “market perform” rating in a research report on Tuesday.

Rent the Runway Price Performance

NASDAQ RENT opened at $4.05 on Tuesday. The company has a market cap of $15.72 million, a P/E ratio of -0.18 and a beta of 1.33. Rent the Runway has a 12 month low of $3.70 and a 12 month high of $41.81. The company has a 50-day moving average of $5.20 and a 200-day moving average of $7.87.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings data on Tuesday, April 15th. The company reported ($3.44) EPS for the quarter, topping analysts’ consensus estimates of ($3.48) by $0.04. The firm had revenue of $76.40 million for the quarter, compared to analyst estimates of $77.60 million. As a group, equities research analysts anticipate that Rent the Runway will post -18.61 EPS for the current year.

Institutional Investors Weigh In On Rent the Runway

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. purchased a new position in Rent the Runway in the 4th quarter valued at about $33,000. Connective Capital Management LLC purchased a new position in Rent the Runway in the fourth quarter valued at about $183,000. Bank of America Corp DE grew its stake in Rent the Runway by 40.0% during the 4th quarter. Bank of America Corp DE now owns 23,755 shares of the company’s stock valued at $202,000 after purchasing an additional 6,785 shares in the last quarter. Finally, CastleKnight Management LP increased its holdings in Rent the Runway by 51.7% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Company Profile

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.