RealReal (NASDAQ:REAL) Shares Up 6.6% – Time to Buy?

Shares of The RealReal, Inc. (NASDAQ:REAL) shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $6.02 and last traded at $6.08. 1,202,186 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 2,559,759 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REAL. Northland Securities lifted their price objective on shares of RealReal from $6.50 to $12.50 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Wells Fargo & Company raised shares of RealReal from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $4.00 to $15.00 in a research note on Monday, December 9th. Finally, UBS Group reduced their price objective on shares of RealReal from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.33.

RealReal Trading Up 6.3 %

The firm’s fifty day moving average price is $7.77 and its 200-day moving average price is $6.00. The company has a market cap of $673.82 million, a P/E ratio of -4.74 and a beta of 3.00.

RealReal (NASDAQ:REAL) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.52). The firm had revenue of $164.00 million for the quarter, compared to the consensus estimate of $162.69 million. As a group, research analysts forecast that The RealReal, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other RealReal news, insider Luke Thomas Friang sold 18,503 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $6.90, for a total value of $127,670.70. Following the transaction, the insider now directly owns 556,557 shares in the company, valued at $3,840,243.30. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John E. Koryl sold 396,478 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $9.61, for a total transaction of $3,810,153.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 654,761 shares of company stock worth $5,592,306. Corporate insiders own 9.78% of the company’s stock.

Hedge Funds Weigh In On RealReal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in REAL. Anthracite Investment Company Inc. boosted its position in RealReal by 62.0% in the third quarter. Anthracite Investment Company Inc. now owns 745,304 shares of the company’s stock valued at $2,340,000 after buying an additional 285,304 shares in the last quarter. Intech Investment Management LLC acquired a new position in RealReal in the third quarter valued at about $88,000. Dynamic Technology Lab Private Ltd lifted its position in shares of RealReal by 89.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 175,760 shares of the company’s stock worth $552,000 after purchasing an additional 82,871 shares in the last quarter. Crestwood Capital Management L.P. lifted its position in shares of RealReal by 20.6% during the third quarter. Crestwood Capital Management L.P. now owns 1,193,501 shares of the company’s stock worth $3,748,000 after purchasing an additional 204,226 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of RealReal by 43.9% during the third quarter. MetLife Investment Management LLC now owns 35,970 shares of the company’s stock worth $113,000 after purchasing an additional 10,981 shares in the last quarter. 64.73% of the stock is currently owned by institutional investors and hedge funds.

About RealReal

The RealReal, Inc operates an online marketplace for resale luxury goods in the United State. The company offers various product categories, including women's fashion, men's fashion, jewelry, and watches. It primarily sells products through online marketplace and retail stores. The company was incorporated in 2011 and is headquartered in San Francisco, California.