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ATRenew (NYSE:RERE) Raised to "Strong-Buy" at Wall Street Zen

ATRenew logo with Business Services background

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

ATRenew Stock Down 2.1%

Shares of ATRenew stock traded down $0.06 during trading on Friday, hitting $2.62. 360,025 shares of the stock traded hands, compared to its average volume of 1,063,181. The stock has a market cap of $637.73 million, a price-to-earnings ratio of -52.29, a PEG ratio of 0.41 and a beta of 0.06. ATRenew has a 52 week low of $2.00 and a 52 week high of $3.70. The firm's fifty day moving average is $2.58 and its 200-day moving average is $2.79.

ATRenew (NYSE:RERE - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $4.62 billion. ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. On average, analysts forecast that ATRenew will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of ATRenew

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new position in shares of ATRenew during the fourth quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in ATRenew during the 1st quarter valued at about $32,000. Harbour Capital Advisors LLC bought a new position in ATRenew during the 1st quarter worth approximately $33,000. PFG Investments LLC bought a new position in ATRenew during the 1st quarter worth approximately $40,000. Finally, Virtu Financial LLC purchased a new position in ATRenew in the 1st quarter worth approximately $48,000. 19.29% of the stock is owned by institutional investors.

ATRenew Company Profile

(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.

Further Reading

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