ATRenew (NYSE:RERE) Shares Climb 4.5% – Should You Buy?

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE – Get Free Report) traded up 4.5% during mid-day trading on Friday. The stock traded as high as $4.06 and last traded at $4.0350. 199,865 shares were traded during trading, a decline of 80% from the average daily volume of 1,006,996 shares. The stock had previously closed at $3.86.

Analyst Upgrades and Downgrades

RERE has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research report on Tuesday, October 27th. CICC Research started coverage on ATRenew in a research report on Thursday, August 20th. They set an “outperform” rating on the stock. Wall Street Zen raised ATRenew from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Finally, UBS Group initiated coverage on ATRenew in a report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Check Out Our Latest Stock Analysis on RERE

ATRenew Stock Performance

The company has a market cap of $887.47 million, a price-to-earnings ratio of 13.95 and a beta of 0.50. The stock’s fifty day simple moving average is $3.96 and its two-hundred day simple moving average is $4.51.

ATRenew (NYSE:RERE – Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $972.82 million during the quarter, compared to analysts’ expectations of $930.34 million. ATRenew had a net margin of 2.01% and a return on equity of 12.32%. Analysts predict that ATRenew Inc. Sponsored ADR will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prescott Group Capital Management L.L.C. increased its position in ATRenew by 1.5% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 3,365,436 shares of the company’s stock worth $12,553,000 after purchasing an additional 50,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in ATRenew during the first quarter valued at approximately $2,368,000. Precision Wealth Strategies LLC grew its stake in ATRenew by 17.7% during the first quarter. Precision Wealth Strategies LLC now owns 296,399 shares of the company’s stock worth $1,390,000 after buying an additional 44,659 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in ATRenew during the second quarter worth approximately $755,000. Finally, Lazard Asset Management LLC purchased a new stake in ATRenew during the first quarter worth approximately $540,000. 19.29% of the stock is owned by institutional investors and hedge funds.

ATRenew Company Profile

(Get Free Report)

ATRenew Inc. operates a technology-enabled platform in China for recycling and reselling pre-owned consumer electronics, particularly smartphones. Through its Aihuishou brand, the company accepts devices from consumers and businesses, assesses their condition, and directs them to resale or other processing channels. The company connects online services with a network of physical stores and collection points, and works with e-commerce platforms and other partners to support trade-ins and device recycling.

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