Wall Street Zen cut shares of ATRenew (NYSE:RERE - Free Report) from a strong-buy rating to a buy rating in a research note published on Saturday.
ATRenew Stock Performance
Shares of ATRenew stock traded up $0.12 during midday trading on Friday, reaching $2.99. 2,117,009 shares of the company's stock traded hands, compared to its average volume of 1,019,926. ATRenew has a 52 week low of $2.00 and a 52 week high of $3.70. The company's 50 day simple moving average is $2.55 and its 200 day simple moving average is $2.76. The company has a market cap of $728.93 million, a price-to-earnings ratio of 42.70 and a beta of 0.09.
ATRenew (NYSE:RERE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $641.26 million during 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, equities research analysts predict that ATRenew will post 0.09 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in shares of ATRenew in the fourth quarter worth $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in ATRenew in the 1st quarter worth $32,000. Harbour Capital Advisors LLC bought a new position in shares of ATRenew during the 1st quarter worth about $33,000. PFG Investments LLC bought a new position in shares of ATRenew during the 1st quarter worth about $40,000. Finally, Virtu Financial LLC acquired a new position in shares of ATRenew during the first quarter valued at about $48,000. 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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