Lazard Asset Management LLC Invests $540,000 in ATRenew Inc. Sponsored ADR $RERE

Lazard Asset Management LLC purchased a new position in ATRenew Inc. Sponsored ADR (NYSE:RERE) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 115,218 shares of the company’s stock, valued at approximately $540,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its holdings in ATRenew by 15.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock worth $194,000 after buying an additional 9,094 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of ATRenew in the 1st quarter valued at approximately $114,000. JPMorgan Chase & Co. raised its position in shares of ATRenew by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock valued at $1,759,000 after acquiring an additional 327,715 shares in the last quarter. Marshall Wace LLP raised its position in shares of ATRenew by 14.2% during the 2nd quarter. Marshall Wace LLP now owns 561,536 shares of the company’s stock valued at $1,859,000 after acquiring an additional 69,801 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in ATRenew by 66.8% during the second quarter. Qube Research & Technologies Ltd now owns 267,728 shares of the company’s stock worth $886,000 after purchasing an additional 107,267 shares during the last quarter. 19.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RERE has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ATRenew in a research note on Wednesday, July 29th. Wall Street Zen cut shares of ATRenew from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. Finally, UBS Group started coverage on ATRenew in a report on Tuesday, July 21st. They set a “buy” rating and a $5.50 target price for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

ATRenew Trading Up 1.3%

NYSE RERE opened at $4.42 on Friday. The company has a 50-day moving average price of $4.05 and a two-hundred day moving average price of $4.78. ATRenew Inc. Sponsored ADR has a 52 week low of $3.45 and a 52 week high of $6.47. The stock has a market cap of $968.65 million, a price-to-earnings ratio of 17.66 and a beta of 0.31.

ATRenew (NYSE:RERE) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) 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 company had revenue of $893.46 million during the quarter, compared to analyst estimates of $856.01 million. As a group, equities research analysts expect that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current fiscal year.

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.