ATRenew (NYSE:RERE) Posts Earnings Results, Beats Expectations By $0.05 EPS

ATRenew (NYSE:RERE) announced its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05, FiscalAI reports. ATRenew had a net margin of 1.44% and a return on equity of 8.91%.

ATRenew Stock Up 11.6%

RERE opened at $6.21 on Wednesday. ATRenew has a 12-month low of $2.00 and a 12-month high of $6.47. The business has a 50 day moving average of $5.76 and a 200-day moving average of $4.93.

Analyst Upgrades and Downgrades

RERE has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On ATRenew

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN bought a new stake in shares of ATRenew in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its position in ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after acquiring an additional 6,409 shares during the period. Brevan Howard Capital Management LP acquired a new stake in ATRenew in the 3rd quarter worth about $49,000. Van ECK Associates Corp acquired a new stake in ATRenew in the 3rd quarter worth about $83,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in ATRenew in the 3rd quarter valued at about $91,000. Institutional investors own 19.29% of the company’s stock.

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. The company was formerly known as AiHuiShou International Co Ltd.