ATRenew Inc. Sponsored ADR (NYSE:RERE – Get Free Report) shares passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $3.96 and traded as high as $4.01. ATRenew shares last traded at $4.0050, with a volume of 607,187 shares trading hands.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on RERE shares. CICC Research started coverage on ATRenew in a research report on Thursday, August 20th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ATRenew in a research report on Wednesday, July 29th. UBS Group started coverage on shares of ATRenew in a report on Tuesday, July 21st. They set a “buy” rating and a $5.50 target price on the stock. Finally, Wall Street Zen upgraded shares of ATRenew from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.50.
Check Out Our Latest Stock Analysis on ATRenew
ATRenew Trading Up 1.6%
The company has a market cap of $878.68 million, a P/E ratio of 13.81 and a beta of 0.39. The stock’s 50 day moving average is $3.96 and its 200-day moving average is $4.61.
ATRenew (NYSE:RERE – Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $972.82 million for the quarter, compared to the consensus estimate of $930.34 million. As a group, sell-side analysts forecast that ATRenew Inc. Sponsored ADR will post 0.37 EPS for the current year.
Hedge Funds Weigh In On ATRenew
A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in ATRenew during the 1st quarter valued at $2,368,000. Public Employees Retirement System of Ohio purchased a new position in shares of ATRenew in the second quarter worth $755,000. Lazard Asset Management LLC purchased a new position in shares of ATRenew in the first quarter worth $540,000. Caxton Associates LLP purchased a new position in shares of ATRenew in the first quarter worth $351,000. Finally, Precision Wealth Strategies LLC lifted its holdings in shares of ATRenew by 17.7% during the first quarter. Precision Wealth Strategies LLC now owns 296,399 shares of the company’s stock valued at $1,390,000 after purchasing an additional 44,659 shares in the last quarter. 19.29% of the stock is currently owned by hedge funds and other institutional investors.
About ATRenew
ATRenew Inc operates a technology-driven platform for the recycling and resale of consumer electronics and other pre-owned goods. The company connects consumers, retailers, brands, and professional buyers through online and offline channels, with a focus on smartphones, tablets, laptops, digital devices, and related products.
Its business includes consumer-to-business recycling, where individuals sell used devices for inspection and resale; a marketplace that enables professional merchants to trade pre-owned products; and business-to-business transactions involving retailers, brands, and other commercial partners.
Read More
- Five stocks we like better than ATRenew
- Coca-Cola Stock Is Everything AI Isn’t—And That’s Its Biggest Strength
- Apple’s Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
- Netflix Is Making Big Changes, But Can It Fix What’s Really Hurting Growth?
- Charging Ahead: Solid Power’s Pilot Line Leaves the Lab
Receive News & Ratings for ATRenew Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ATRenew and related companies with MarketBeat.com's FREE daily email newsletter.
