RealReal (NASDAQ:REAL) Shares Climb 9.3% – Here’s What Happened

Shares of The RealReal, Inc. (NASDAQ:REAL) rose 9.3% during trading on Thursday. The company traded as high as $9.73 and last traded at $9.9490. 372,929 shares were traded during trading, a decline of 88% from the average daily volume of 3,206,851 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on REAL. UBS Group raised their price objective on RealReal from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price objective on shares of RealReal in a report on Thursday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RealReal in a research report on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and set a $19.00 target price on shares of RealReal in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

RealReal Price Performance

The firm’s 50-day moving average price is $10.15 and its 200 day moving average price is $10.56. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.12 and a beta of 2.81.

RealReal (NASDAQ:REAL) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $192.57 million for the quarter, compared to analysts’ expectations of $188.11 million. RealReal’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that The RealReal, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other RealReal news, CAO Steve Lo sold 12,559 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.97, for a total transaction of $137,772.23. Following the completion of the transaction, the chief accounting officer owned 176,910 shares of the company’s stock, valued at approximately $1,940,702.70. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Luke Friang sold 22,028 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.98, for a total value of $241,867.44. Following the completion of the transaction, the insider directly owned 508,648 shares of the company’s stock, valued at approximately $5,584,955.04. This trade represents a 4.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 173,004 shares of company stock worth $1,899,283 in the last quarter. 2.66% of the stock is currently owned by corporate insiders.

Institutional Trading of RealReal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REAL. Bank of New York Mellon Corp acquired a new position in RealReal in the 2nd quarter valued at $4,524,000. Bank of America Corp DE purchased a new position in shares of RealReal during the 2nd quarter worth $12,655,000. Angeles Wealth Management LLC purchased a new position in shares of RealReal during the 2nd quarter worth $1,290,000. Fifth Third Bancorp acquired a new stake in shares of RealReal during the first quarter worth $2,270,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of RealReal during the second quarter worth $1,565,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

RealReal Company Profile

The RealReal, Inc operates an online and physical marketplace for authenticated, pre-owned luxury goods. The company enables individuals to consign and purchase luxury apparel, handbags, shoes, jewelry, watches, fine art and home décor from leading luxury brands.

The RealReal provides sellers with services that include item evaluation, authentication, pricing, merchandising, photography, listing, shipping and customer support. Buyers can shop through the company’s website, mobile application and select retail locations, with products authenticated before being offered for sale.

Founded in 2011 by Julie Wainwright, The RealReal primarily serves customers in the United States.