ATRenew (NYSE:RERE) Upgraded at Wall Street Zen

ATRenew (NYSE:RERE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

ATRenew Trading Up 11.3%

RERE stock opened at $3.49 on Friday. The company's 50 day moving average is $2.63 and its 200 day moving average is $2.76. The stock has a market cap of $849.89 million, a price-to-earnings ratio of 49.79 and a beta of 0.09. ATRenew has a 1-year low of $2.00 and a 1-year high of $3.70.

ATRenew (NYSE:RERE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 8.91% and a net margin of 0.73%. As a group, sell-side analysts forecast that ATRenew will post 0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in ATRenew by 27.4% in the first quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock worth $7,899,000 after buying an additional 579,334 shares in the last quarter. Caxton Associates LLP purchased a new stake in ATRenew in the first quarter worth approximately $114,000. Eschler Asset Management LLP boosted its stake in ATRenew by 163.6% in the first quarter. Eschler Asset Management LLP now owns 226,700 shares of the company's stock worth $666,000 after buying an additional 140,700 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in ATRenew by 15.9% in the first quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company's stock worth $194,000 after buying an additional 9,094 shares in the last quarter. Finally, Harber Asset Management LLC boosted its stake in ATRenew by 0.6% in the first quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company's stock worth $3,688,000 after buying an additional 7,750 shares in the last quarter. 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.

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