ATRenew (NYSE:RERE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ATRenew (NYSE:RERE) from a buy rating to a strong-buy rating in a research report released on Sunday.

ATRenew Stock Up 1.5%

NYSE RERE opened at $3.36 on Friday. The company has a fifty day moving average of $2.68 and a two-hundred day moving average of $2.77. The firm has a market capitalization of $819.40 million, a price-to-earnings ratio of 48.00 and a beta of 0.20. ATRenew has a 52 week low of $2.00 and a 52 week high of $3.70.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $641.26 million for the quarter, compared to analysts’ expectations of $4.62 billion. ATRenew had a return on equity of 8.91% and a net margin of 0.73%. Equities research analysts anticipate that ATRenew will post 0.09 EPS for the current year.

ATRenew announced that its board has authorized a stock repurchase program on Monday, June 30th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of ATRenew

Several institutional investors and hedge funds have recently made changes to their positions in RERE. Price T Rowe Associates Inc. MD bought a new stake in shares of ATRenew during the fourth quarter worth $6,623,000. Invesco Ltd. lifted its position in shares of ATRenew by 1,718.6% during the fourth quarter. Invesco Ltd. now owns 1,896,877 shares of the company’s stock worth $5,463,000 after purchasing an additional 1,792,572 shares during the last quarter. Yiheng Capital Management L.P. lifted its position in shares of ATRenew by 107.7% during the fourth quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company’s stock worth $9,110,000 after purchasing an additional 1,639,859 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of ATRenew by 101.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company’s stock worth $4,713,000 after purchasing an additional 822,998 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. raised its holdings in shares of ATRenew by 31.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock valued at $8,742,000 after acquiring an additional 724,415 shares in the last quarter. 19.29% of the stock is currently owned by institutional investors.

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.