Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE – Get Free Report) traded up 5.9% during mid-day trading on Thursday . The stock traded as high as $4.21 and last traded at $4.2450. 295,455 shares changed hands during trading, a decline of 74% from the average daily volume of 1,155,292 shares. The stock had previously closed at $4.01.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Weiss Ratings lowered ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, ATRenew presently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on RERE
ATRenew Price Performance
ATRenew (NYSE:RERE – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The firm had revenue of $893.46 million for the quarter, compared to analysts’ expectations of $856.01 million. On average, sell-side analysts expect that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current year.
Institutional Investors Weigh In On ATRenew
Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new position in ATRenew in the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd raised its stake in ATRenew by 10,014.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after purchasing an additional 6,409 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of ATRenew in the third quarter valued at $49,000. Hsbc Holdings PLC purchased a new stake in shares of ATRenew in the fourth quarter valued at $67,000. Finally, Van ECK Associates Corp acquired a new stake in shares of ATRenew in the third quarter worth $83,000. Hedge funds and other institutional investors own 19.29% of the company’s stock.
About ATRenew
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. The company was formerly known as AiHuiShou International Co Ltd.
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