ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $3.95 and last traded at $3.79, with a volume of 6633343 shares trading hands. The stock had previously closed at $3.48.
Analysts Set New Price Targets
Separately, Wall Street Zen raised ATRenew from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th.
Read Our Latest Stock Report on ATRenew
ATRenew Stock Performance
The business's 50 day moving average is $2.88 and its 200 day moving average is $2.81. The company has a market capitalization of $870.62 million, a price-to-earnings ratio of 51.00 and a beta of 0.20.
ATRenew (NYSE:RERE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 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. Sell-side analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current year.
ATRenew announced that its Board of Directors has approved a share buyback program on Monday, June 30th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company's board believes its stock is undervalued.
Institutional Investors Weigh In On ATRenew
Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in shares of ATRenew in the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in ATRenew in the 1st quarter worth approximately $32,000. Harbour Capital Advisors LLC purchased a new stake in ATRenew in the 1st quarter worth approximately $33,000. PFG Investments LLC purchased a new stake in ATRenew in the 1st quarter worth approximately $40,000. Finally, Virtu Financial LLC purchased a new stake in ATRenew in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 19.29% of the company's stock.
About ATRenew
(
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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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