504,946 Shares in ATRenew Inc. Sponsored ADR $RERE Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies acquired 504,946 ATRenew shares worth approximately $2.37 million, giving it a 0.23% stake. Institutional investors collectively own 19.29% of RERE.
• ATRenew beat quarterly expectations, reporting $0.08 in earnings per share versus the $0.07 consensus and revenue of $893.46 million versus estimates of $856.01 million.
• Analyst sentiment is moderately bullish, with an average “Moderate Buy” rating and a $5.50 price target compared with the stock’s reported opening price of $4.55.

Renaissance Technologies LLC bought a new stake in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 504,946 shares of the company's stock, valued at approximately $2,368,000. Renaissance Technologies LLC owned 0.23% of ATRenew at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RERE. Wells Fargo & Company MN bought a new stake in shares of ATRenew during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd raised its holdings in ATRenew by 10,014.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company's stock worth $34,000 after purchasing an additional 6,409 shares during the period. Brevan Howard Capital Management LP purchased a new position in ATRenew during the third quarter valued at $49,000. Hsbc Holdings PLC purchased a new position in ATRenew during the fourth quarter valued at $67,000. Finally, Van ECK Associates Corp bought a new stake in ATRenew during the third quarter valued at about $83,000. 19.29% of the stock is currently owned by institutional investors.

ATRenew Price Performance

Shares of RERE opened at $4.55 on Tuesday. The stock has a market capitalization of $998.27 million, a price-to-earnings ratio of 18.20 and a beta of 0.31. ATRenew Inc. Sponsored ADR has a 1 year low of $3.50 and a 1 year high of $6.47. The business's 50 day simple moving average is $4.05 and its 200-day simple moving average is $4.77.

ATRenew (NYSE:RERE - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. The firm had revenue of $893.46 million during the quarter, compared to analyst estimates of $856.01 million. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. On average, sell-side analysts expect that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on RERE shares. Weiss Ratings restated a "hold (c)" rating on shares of ATRenew in a research report on Wednesday, July 29th. UBS Group initiated coverage on ATRenew in a research report on Tuesday, July 21st. They set a "buy" rating and a $5.50 price objective on the stock. Finally, Wall Street Zen downgraded ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $5.50.

ATRenew Company Profile

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. The company was formerly known as AiHuiShou International Co Ltd.

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