ATRenew (NYSE:RERE) Stock Price Down 1.6% - Should You Sell?

Key Points

• ATRenew shares fell 1.6% on Thursday, trading as low as $3.97 before last changing hands at $4.03. Trading volume was below average, with about 743,663 shares exchanged.
• Analyst sentiment remains cautious overall: ATRenew’s current consensus rating is Hold, even though one firm recently upgraded the stock to strong-buy and another downgraded it to a lower Hold rating.
• The company’s latest quarterly results beat expectations, with $0.08 EPS versus $0.07 expected and revenue of $893.46 million topping forecasts. Analysts still expect ATRenew to earn about $0.40 per share for the full year.

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report)'s share price fell 1.6% on Thursday . The company traded as low as $3.97 and last traded at $4.0250. Approximately 743,663 shares traded hands during trading, a decline of 22% from the average daily volume of 948,616 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

RERE has been the topic of several research reports. Weiss Ratings cut ATRenew from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of ATRenew from a "buy" rating to a "strong-buy" rating in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, ATRenew presently has a consensus rating of "Hold".

ATRenew Stock Performance

The company has a fifty day moving average of $4.29 and a two-hundred day moving average of $5.00. The company has a market cap of $883.09 million, a PE ratio of 16.10 and a beta of 0.29.

ATRenew (NYSE:RERE - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. The company had revenue of $893.46 million during the quarter, compared to analyst estimates of $856.01 million. On average, equities analysts forecast that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current year.

Hedge Funds Weigh In On ATRenew

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN purchased a new stake in ATRenew in the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its position in shares of ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company's stock valued at $34,000 after buying an additional 6,409 shares during the period. Brevan Howard Capital Management LP purchased a new position in shares of ATRenew during the third quarter valued at approximately $49,000. Hsbc Holdings PLC bought a new position in shares of ATRenew during the fourth quarter valued at approximately $67,000. Finally, Van ECK Associates Corp bought a new position in shares of ATRenew during the third quarter valued at approximately $83,000. 19.29% of the stock is currently owned by institutional investors.

About ATRenew

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. The company was formerly known as AiHuiShou International Co Ltd.

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