ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares fell 9.2% during trading on Wednesday . The stock traded as low as $3.70 and last traded at $3.69. 1,690,582 shares traded hands during mid-day trading, an increase of 54% from the average session volume of 1,095,537 shares. The stock had previously closed at $4.06.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Saturday.
Check Out Our Latest Report on ATRenew
ATRenew Stock Performance
The business has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $2.81. The stock has a market capitalization of $870.62 million, a P/E ratio of 51.00 and a beta of 0.20.
ATRenew (NYSE:RERE - Get Free Report) last released its earnings results on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). ATRenew had a return on equity of 8.91% and a net margin of 0.73%. The business had revenue of $641.26 million during the quarter, compared to the consensus estimate of $4.62 billion. Equities research analysts forecast that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.
ATRenew announced that its board has authorized a stock repurchase program on Monday, June 30th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Institutional Investors Weigh In On ATRenew
Several large investors have recently modified their holdings of RERE. NewEdge Advisors LLC purchased a new stake in shares of ATRenew in the fourth quarter worth approximately $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 acquired a new stake in shares of ATRenew during the 1st quarter valued at $33,000. PFG Investments LLC acquired a new stake in shares of ATRenew in the first quarter worth about $40,000. Finally, Virtu Financial LLC bought a new stake in shares of ATRenew during the 1st quarter worth about $48,000. 19.29% of the stock is owned by institutional investors.
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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