ATRenew's (RERE) Hold (C-) Rating Reiterated at Weiss Ratings

Key Points

• ATRenew's stock rating has been reiterated as a Hold (C-) by Weiss Ratings, reflecting the firm's cautious outlook on the company.
• Wall Street Zen has adjusted ATRenew's rating from strong-buy to buy, indicating a shift in sentiment among analysts.
• The company has initiated a stock buyback program, which typically suggests that management believes the stock is undervalued.

ATRenew (NYSE:RERE - Get Free Report)'s stock had its "hold (c-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut shares of ATRenew from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, ATRenew currently has an average rating of "Hold".

ATRenew Trading Up 3.2%

Shares of RERE traded up $0.14 on Wednesday, reaching $4.32. The company's stock had a trading volume of 560,731 shares, compared to its average volume of 1,577,920. ATRenew has a twelve month low of $2.00 and a twelve month high of $4.93. The firm has a fifty day moving average of $4.27 and a 200-day moving average of $3.33. The stock has a market capitalization of $1.05 billion, a PE ratio of 35.92 and a beta of 0.24.

ATRenew announced that its board has initiated a stock buyback program on Monday, June 30th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Institutional Trading of ATRenew

Institutional investors and hedge funds have recently bought and sold shares of the business. Harbour Capital Advisors LLC purchased a new position in shares of ATRenew during the 1st quarter valued at approximately $33,000. PFG Investments LLC purchased a new stake in shares of ATRenew during the first quarter worth $40,000. Virtu Financial LLC purchased a new stake in shares of ATRenew during the first quarter worth $48,000. Squarepoint Ops LLC purchased a new stake in shares of ATRenew during the fourth quarter worth $50,000. Finally, QRG Capital Management Inc. grew its holdings in shares of ATRenew by 77.2% during the first quarter. QRG Capital Management Inc. now owns 29,710 shares of the company's stock worth $87,000 after buying an additional 12,946 shares in the last quarter. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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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