ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 1,235,276 shares changed hands during trading, an increase of 9% from the previous session's volume of 1,130,083 shares.The stock last traded at $3.76 and had previously closed at $3.55.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.
Get Our Latest Analysis on RERE
ATRenew Price Performance
The business has a 50 day moving average of $2.95 and a 200 day moving average of $2.83. The firm has a market capitalization of $825.51 million, a price-to-earnings ratio of 48.36 and a beta of 0.20.
ATRenew (NYSE:RERE - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). ATRenew had a return on equity of 8.91% and a net margin of 0.73%. The company had revenue of $641.26 million for the quarter, compared to analyst estimates of $4.62 billion. On average, sell-side analysts forecast that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.
ATRenew announced that its Board of Directors has approved a stock repurchase program on Monday, June 30th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.
Institutional Trading of ATRenew
Large investors have recently made changes to their positions in the business. PFG Investments LLC bought a new position in ATRenew in the first quarter valued at about $40,000. Two Sigma Investments LP raised its position in shares of ATRenew by 38.2% during the fourth quarter. Two Sigma Investments LP now owns 108,516 shares of the company's stock worth $313,000 after purchasing an additional 30,000 shares during the period. Bank of America Corp DE raised its position in shares of ATRenew by 46.3% during the fourth quarter. Bank of America Corp DE now owns 578,457 shares of the company's stock worth $1,666,000 after purchasing an additional 183,201 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of ATRenew during the fourth quarter worth about $50,000. Finally, QRG Capital Management Inc. raised its position in shares of ATRenew by 77.2% during the first quarter. QRG Capital Management Inc. now owns 29,710 shares of the company's stock worth $87,000 after purchasing an additional 12,946 shares during the period. Institutional investors own 19.29% of the company's stock.
ATRenew Company Profile
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ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.
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