Healthcare of Ontario Pension Plan Trust Fund Has $3.06 Million Stock Position in ATRenew Inc. Sponsored ADR $RERE

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its ATRenew (NYSE: RERE) stake by 55.5% in the first quarter, selling 813,700 shares and retaining 652,400 shares valued at approximately $3.06 million.
• Analysts maintain a cautiously positive outlook, with the stock receiving a consensus “Moderate Buy” rating and a $5.50 price target. UBS recently initiated coverage with a Buy rating.
• ATRenew exceeded quarterly expectations, reporting earnings of $0.08 per share versus $0.07 expected and revenue of $893.46 million versus an $856.01 million consensus estimate.

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE - Free Report) by 55.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 652,400 shares of the company's stock after selling 813,700 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.30% of ATRenew worth $3,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN acquired a new position in shares of ATRenew during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd boosted its stake in ATRenew by 10,014.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company's stock valued at $34,000 after buying an additional 6,409 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in ATRenew in the third quarter valued at about $49,000. Hsbc Holdings PLC acquired a new position in ATRenew during the fourth quarter worth about $67,000. Finally, Van ECK Associates Corp acquired a new position in ATRenew during the third quarter worth about $83,000. Institutional investors own 19.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RERE. UBS Group initiated coverage on shares of ATRenew in a research note on Tuesday, July 21st. They issued a "buy" rating and a $5.50 price target on the stock. Weiss Ratings downgraded shares of ATRenew from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Finally, Wall Street Zen lowered shares of ATRenew from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $5.50.

ATRenew Trading Down 1.3%

ATRenew stock opened at $4.17 on Friday. The stock has a 50-day moving average price of $4.10 and a two-hundred day moving average price of $4.85. ATRenew Inc. Sponsored ADR has a 12 month low of $3.07 and a 12 month high of $6.47. The company has a market capitalization of $916.00 million, a PE ratio of 16.70 and a beta of 0.29.

ATRenew (NYSE:RERE - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The company had revenue of $893.46 million for the quarter, compared to analysts' expectations of $856.01 million. As a group, analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current fiscal year.

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

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