ATRenew (NYSE:RERE - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.
ATRenew Trading Up 1.7%
Shares of ATRenew stock traded up $0.05 on Friday, reaching $2.63. 602,237 shares of the company were exchanged, compared to its average volume of 1,057,575. ATRenew has a fifty-two week low of $2.00 and a fifty-two week high of $3.70. The firm has a market capitalization of $640.16 million, a price-to-earnings ratio of -52.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.06. The stock has a fifty day moving average price of $2.54 and a 200-day moving average price of $2.79.
ATRenew (NYSE:RERE - Get Free Report) last released its quarterly 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). ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. The company had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. On average, equities analysts anticipate that ATRenew will post 0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ATRenew
Several hedge funds have recently modified their holdings of RERE. Acadian Asset Management LLC boosted its stake in ATRenew by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock valued at $7,899,000 after purchasing an additional 579,334 shares during the period. Caxton Associates LLP bought a new stake in ATRenew during the first quarter valued at $114,000. Eschler Asset Management LLP raised its holdings in shares of ATRenew by 163.6% during the first quarter. Eschler Asset Management LLP now owns 226,700 shares of the company's stock valued at $666,000 after purchasing an additional 140,700 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of ATRenew by 15.9% during the first quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company's stock valued at $194,000 after purchasing an additional 9,094 shares during the period. Finally, Harber Asset Management LLC raised its holdings in shares of ATRenew by 0.6% in the 1st quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company's stock worth $3,688,000 after acquiring an additional 7,750 shares during the last quarter. Institutional investors own 19.29% of the company's stock.
About ATRenew
(
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.
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