RealReal (NASDAQ:REAL) Shares Up 6.6% – Still a Buy?

The RealReal, Inc. (NASDAQ:REAL)’s share price shot up 6.6% on Wednesday . The company 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 Analysts Forecast Growth

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

RealReal Price Performance

The firm has a market capitalization of $693.07 million, a PE ratio of -4.83 and a beta of 3.00. The stock’s 50-day moving average price is $7.67 and its 200 day moving average price is $6.00.

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

Insider Buying and Selling

In other RealReal news, CEO John E. Koryl sold 396,478 shares of RealReal stock in a transaction on Monday, January 6th. The shares were sold at an average price of $9.61, for a total value of $3,810,153.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Steve Ming Lo sold 23,477 shares of RealReal stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $6.90, for a total transaction of $161,991.30. Following the completion of the transaction, the chief accounting officer now directly owns 330,117 shares in the company, valued at $2,277,807.30. This represents a 6.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 654,761 shares of company stock valued at $5,592,306 over the last 90 days. Corporate insiders own 9.78% of the company’s stock.

Hedge Funds Weigh In On RealReal

Several institutional investors and hedge funds have recently bought and sold shares of REAL. Intech Investment Management LLC purchased a new position in RealReal in the third quarter worth $88,000. Dynamic Technology Lab Private Ltd lifted its position in RealReal by 89.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 175,760 shares of the company’s stock valued at $552,000 after purchasing an additional 82,871 shares during the period. Crestwood Capital Management L.P. lifted its position in RealReal by 20.6% during the third quarter. Crestwood Capital Management L.P. now owns 1,193,501 shares of the company’s stock valued at $3,748,000 after purchasing an additional 204,226 shares during the period. MetLife Investment Management LLC lifted its position in RealReal by 43.9% during the third quarter. MetLife Investment Management LLC now owns 35,970 shares of the company’s stock valued at $113,000 after purchasing an additional 10,981 shares during the period. Finally, Walleye Capital LLC acquired a new position in RealReal during the third quarter valued at $1,163,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

RealReal Company Profile

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.