RealReal (NASDAQ:REAL) Stock Price Up 7.8% – Here’s What Happened

The RealReal, Inc. (NASDAQ:REAL)’s stock price traded up 7.8% during trading on Monday . The company traded as high as $9.48 and last traded at $9.48. 833,746 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 2,679,182 shares. The stock had previously closed at $8.79.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on REAL. Northland Securities assumed coverage on shares of RealReal in a report on Monday, September 16th. They set an “outperform” rating and a $6.00 price objective on the stock. Northland Capmk raised RealReal to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised RealReal from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $15.00 in a research note on Monday, December 9th. Finally, UBS Group upped their target price on RealReal from $3.00 to $3.25 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, RealReal has an average rating of “Moderate Buy” and an average target price of $6.29.

RealReal Stock Up 5.2 %

The company has a market cap of $1.01 billion, a PE ratio of -10.77 and a beta of 3.09. The company has a 50-day moving average of $4.52 and a 200-day moving average of $3.61.

Insider Transactions at RealReal

In related news, CAO Steve Ming Lo sold 96,666 shares of RealReal stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.10, for a total transaction of $589,662.60. Following the sale, the chief accounting officer now directly owns 391,525 shares in the company, valued at approximately $2,388,302.50. This trade represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 9.78% of the company’s stock.

Institutional Investors Weigh In On RealReal

Several large investors have recently made changes to their positions in the business. Anchorage Capital Advisors L.P. bought a new stake in RealReal in the third quarter worth about $10,675,000. Renaissance Technologies LLC bought a new position in RealReal during the second quarter valued at $1,563,000. Capricorn Fund Managers Ltd increased its position in RealReal by 40.4% in the third quarter. Capricorn Fund Managers Ltd now owns 1,406,738 shares of the company’s stock worth $4,417,000 after buying an additional 404,949 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of RealReal during the 3rd quarter valued at $1,163,000. Finally, NewEdge Advisors LLC grew its stake in shares of RealReal by 309.9% during the 2nd quarter. NewEdge Advisors LLC now owns 435,554 shares of the company’s stock worth $1,389,000 after acquiring an additional 329,303 shares during the period. 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.