RealReal (NASDAQ:REAL) Shares Gap Up – What’s Next?

Shares of The RealReal, Inc. (NASDAQ:REAL) gapped up prior to trading on Monday . The stock had previously closed at $6.44, but opened at $7.41. RealReal shares last traded at $8.44, with a volume of 1,223,122 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group upped their price objective on shares of RealReal from $3.00 to $3.25 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Northland Capmk upgraded shares of RealReal to a “strong-buy” rating in a report on Monday, September 16th. Northland Securities began coverage on shares of RealReal in a report on Monday, September 16th. They set an “outperform” rating and a $6.00 target price on the stock. Finally, Wells Fargo & Company upgraded shares of RealReal from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $4.00 to $15.00 in a report on Monday. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.29.

RealReal Stock Performance

The stock’s 50-day simple moving average is $4.04 and its 200 day simple moving average is $3.48. The company has a market capitalization of $993.80 million, a PE ratio of -10.30 and a beta of 3.09.

Insider Buying and Selling at RealReal

In related news, CAO Steve Ming Lo sold 96,666 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.10, for a total value of $589,662.60. Following the transaction, the chief accounting officer now directly owns 391,525 shares of the company’s stock, valued at $2,388,302.50. This trade represents a 19.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.78% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Drive Wealth Management LLC purchased a new position in shares of RealReal in the 2nd quarter valued at $32,000. Calamos Advisors LLC purchased a new position in shares of RealReal in the 2nd quarter valued at $34,000. Evoke Wealth LLC purchased a new position in shares of RealReal in the 2nd quarter valued at $36,000. Principal Financial Group Inc. purchased a new position in shares of RealReal in the 2nd quarter valued at $39,000. Finally, Park Edge Advisors LLC acquired a new stake in RealReal during the 3rd quarter worth $41,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

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.