RealReal (NASDAQ:REAL) Hits New 52-Week High Following 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.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of RealReal from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $4.00 to $15.00 in a research note on Monday, December 9th. UBS Group upped their target price on RealReal from $3.00 to $3.25 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk upgraded RealReal to a “strong-buy” rating in a research note on Monday, September 16th. Two investment 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 company’s stock. According to MarketBeat, RealReal presently has an average rating of “Moderate Buy” and a consensus target price of $7.38.

Insider Buying and Selling

In other news, CAO Steve Ming Lo sold 96,666 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.10, for a total transaction 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 represents a 19.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 9.78% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Drive Wealth Management LLC acquired a new stake in RealReal in the second quarter valued at $32,000. Calamos Advisors LLC acquired a new stake in RealReal in the 2nd quarter valued at about $34,000. Evoke Wealth LLC acquired a new stake in RealReal in the 2nd quarter valued at about $36,000. Principal Financial Group Inc. purchased a new position in RealReal during the 2nd quarter valued at about $39,000. Finally, Park Edge Advisors LLC acquired a new position in RealReal during the third quarter worth about $41,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

RealReal Stock Up 2.8 %

The firm’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $3.68. The company has a market cap of $1.04 billion, a PE ratio of -10.81 and a beta of 3.09.

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.