RealReal (NASDAQ:REAL) Sets New 52-Week High on Analyst Upgrade

The RealReal, Inc. (NASDAQ:REAL) hit a new 52-week high on Tuesday after Northland Securities raised their price target on the stock from $6.50 to $12.50. Northland Securities currently has an outperform rating on the stock. RealReal traded as high as $9.78 and last traded at $9.31, with a volume of 890400 shares traded. The stock had previously closed at $9.25.

REAL has been the subject of a number of other reports. Northland Capmk raised RealReal to a “strong-buy” rating in a research report on Monday, September 16th. UBS Group boosted their target price on RealReal from $3.00 to $3.25 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upgraded RealReal from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $4.00 to $15.00 in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.38.

Insiders Place Their Bets

In related news, CAO Steve Ming Lo sold 96,666 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $6.10, for a total value of $589,662.60. Following the completion of the transaction, the chief accounting officer now owns 391,525 shares of the company’s stock, valued at approximately $2,388,302.50. This represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 9.78% of the stock is currently owned by insiders.

Institutional Trading of RealReal

Hedge funds have recently made changes to their positions in the stock. Drive Wealth Management LLC bought a new position in RealReal during the second quarter valued at about $32,000. Calamos Advisors LLC acquired a new position in shares of RealReal in the 2nd quarter worth approximately $34,000. Evoke Wealth LLC acquired a new position in shares of RealReal in the 2nd quarter worth approximately $36,000. Principal Financial Group Inc. acquired a new position in RealReal during the 2nd quarter worth $39,000. Finally, Park Edge Advisors LLC acquired a new position in RealReal during the 3rd quarter worth $41,000. Institutional investors own 64.73% of the company’s stock.

RealReal Trading Up 0.6 %

The firm has a fifty day simple moving average of $4.64 and a 200-day simple moving average of $3.65. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -10.51 and a beta of 3.09.

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.