ATRenew (NYSE:RERE - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Friday.
ATRenew Stock Performance
Shares of NYSE:RERE opened at $4.5450 on Friday. The company's fifty day moving average is $3.56 and its 200-day moving average is $3.03. ATRenew has a 52 week low of $2.00 and a 52 week high of $4.93. The company has a market capitalization of $1.11 billion, a PE ratio of 37.88 and a beta of 0.20.
ATRenew (NYSE:RERE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate 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 1.13% and a return on equity of 9.04%. On average, analysts forecast that ATRenew will post 0.09 EPS for the current year.
ATRenew declared that its Board of Directors has initiated a stock buyback plan on Monday, June 30th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On ATRenew
A number of institutional investors have recently modified their holdings of RERE. Acadian Asset Management LLC grew its stake in shares of ATRenew by 41.9% during the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company's stock valued at $12,622,000 after purchasing an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in ATRenew by 4.0% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company's stock worth $10,444,000 after buying an additional 120,000 shares in the last quarter. Invesco Ltd. raised its position in shares of ATRenew by 45.6% during the first 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. Price T Rowe Associates Inc. MD acquired a new position in shares of ATRenew during the fourth quarter valued at $6,623,000. Finally, Harber Asset Management LLC boosted its holdings in ATRenew by 0.6% in the first quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company's stock valued at $3,688,000 after acquiring an additional 7,750 shares during the last quarter. 19.29% of the stock is owned by institutional investors.
About ATRenew
(
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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