Wall Street Zen upgraded shares of ATRenew (NYSE:RERE – Free Report) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.
RERE has been the subject of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research report on Wednesday, July 29th. UBS Group assumed coverage on shares of ATRenew in a research report on Tuesday, July 21st. They set a “buy” rating and a $5.50 target price on the stock. Finally, CICC Research initiated coverage on shares of ATRenew in a research note on Thursday, August 20th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.50.
View Our Latest Report on RERE
ATRenew Trading Down 1.4%
ATRenew (NYSE:RERE – Get Free Report) last announced its earnings results on Thursday, August 20th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. ATRenew had a return on equity of 12.32% and a net margin of 2.01%.The firm had revenue of $972.82 million for the quarter, compared to the consensus estimate of $930.34 million. As a group, research analysts forecast that ATRenew will post 0.37 EPS for the current year.
Hedge Funds Weigh In On ATRenew
Institutional investors have recently bought and sold shares of the business. IvyRock Asset Management HK Ltd boosted its holdings in shares of ATRenew by 11.1% in the 4th quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock valued at $106,000 after acquiring an additional 2,000 shares during the last quarter. Globeflex Capital L P acquired a new position in ATRenew during the fourth quarter valued at $258,000. QRG Capital Management Inc. boosted its holdings in ATRenew by 90.5% in the first quarter. QRG Capital Management Inc. now owns 50,924 shares of the company’s stock valued at $239,000 after purchasing an additional 24,192 shares during the last quarter. Caxton Associates LLP purchased a new stake in ATRenew in the first quarter valued at $351,000. Finally, Lazard Asset Management LLC acquired a new stake in ATRenew during the 1st quarter worth about $540,000. 19.29% of the stock is owned by hedge funds and other institutional investors.
About ATRenew
ATRenew Inc (NYSE: RERE), formerly known as AiHuiShou, operates a technology-enabled platform for consumer electronics recycling and resale in China. The company focuses primarily on used mobile phones, tablets, laptops, cameras and other digital devices, helping consumers and businesses sell, trade in, recycle and purchase pre-owned electronics.
ATRenew’s services cover the resale process from device collection and inspection to data erasure, quality grading, pricing, refurbishment and fulfillment.
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