ATRenew (NYSE:RERE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.
ATRenew Trading Up 4.1%
Shares of RERE opened at $2.90 on Friday. The stock has a market capitalization of $706.00 million, a P/E ratio of 41.36 and a beta of 0.09. The firm's fifty day simple moving average is $2.54 and its two-hundred day simple moving average is $2.77. ATRenew has a 12 month low of $2.00 and a 12 month high of $3.70.
ATRenew (NYSE:RERE - Get Free Report) last issued its quarterly 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). The firm had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. ATRenew had a net margin of 0.73% and a return on equity of 8.91%. As a group, research analysts predict that ATRenew will post 0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On ATRenew
Several institutional investors have recently made changes to their positions in the stock. Yiheng Capital Management L.P. raised its holdings in shares of ATRenew by 107.7% during the fourth quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company's stock valued at $9,110,000 after purchasing an additional 1,639,859 shares during the period. Prescott Group Capital Management L.L.C. raised its holdings in shares of ATRenew by 31.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company's stock worth $8,742,000 after acquiring an additional 724,415 shares during the last quarter. Invesco Ltd. raised its holdings in shares of ATRenew by 45.6% in the 1st quarter. Invesco Ltd. now owns 2,760,925 shares of the company's stock worth $8,117,000 after acquiring an additional 864,048 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of ATRenew by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock worth $7,899,000 after acquiring an additional 579,334 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of ATRenew in the 4th quarter worth about $6,623,000. Institutional investors and hedge funds own 19.29% of the company's stock.
ATRenew Company Profile
(
Get Free Report)
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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