The Etymologies of the 1930s had a verb N. {lhuda- >>} lhoda- “to float” under the root ᴹ√LUT “float, swim”, along with a 3rd singular present form lhôd “he floats” (Ety/LUT; EtyAC/LUT). The 3rd singular form seems to imply either a variant basic verb lhod- “float” or a paradigm in which the 3rd singular form of (some) a-verbs lost their final a.
Neo-Sindarin: Since the unvoicing of l was not a feature of Sindarin, most Neo-Sindarin writers adapt this word as ᴺS. loda- “to float”, as suggested in HSD (HSD).
Conceptual Development: The earliest precursor of this verb was G. lud- “flow, stream, float” in the Gnomish Lexicon of the 1910s (GL/55), clearly based on the early root ᴱ√LUTU as suggested by Christopher Tolkien (QL/57; LT1A/Alqaluntë). Early Noldorin Word-lists of the 1920s instead had ᴱN. lhid- “float, sail” (PE13/148).
This verb appeared in its Noldorin-style infinitive form N. rhenio in The Etymologies of the 1930s, derived from primitive ᴹ✶ramya- under the root ᴹ√RAM having do with wings (Ety/RAM). The verb was glossed “fly, sail; wander”, but the last gloss “wander” was technically for a separate verb N. rhenio, elsewhere translated “to stray” and based on the root ᴹ√RAN “wander, stray” (Ety/RAN). The two verbs collided because ancient my became ny in Noldorin of the 1930s.
Neo-Sindarin: Many Neo-Sindarin writers adapt this verb as ᴺS. renia- “to sail, fly” for purposes of Neo-Sindarin, as suggested by David Salo (GS/282), since the unvoicing of initial r to rh was a feature of Noldorin of the 1930s but not Sindarin of the 1950s and 60s. Didier Willis instead suggested ᴺS. revia- (HSD/revia) assuming that my > ny was also a Noldorin-only change, but there is strong evidence that ancient my became ny in Sindarin of the 1950s and 60s as well, notably √MAY > amya- > anya- > S. ein- “excellent, admirable” (PE17/163), published after Willis made his suggestion.