ATRenew (NYSE:RERE) Stock Rating Lowered by Wall Street Zen

ATRenew (NYSE:RERE) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other research analysts have also weighed in on RERE. UBS Group started coverage on shares of ATRenew in a research note on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price objective on the stock. Weiss Ratings lowered shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

ATRenew Price Performance

NYSE:RERE opened at $3.89 on Friday. ATRenew has a fifty-two week low of $3.07 and a fifty-two week high of $6.47. The stock’s 50-day moving average is $4.15 and its two-hundred day moving average is $4.89. The stock has a market cap of $854.12 million, a PE ratio of 15.57 and a beta of 0.29.

ATRenew (NYSE:RERE) last posted 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. The business had revenue of $893.46 million during the quarter, compared to analyst estimates of $856.01 million. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. On average, equities research analysts anticipate that ATRenew will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On ATRenew

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of ATRenew during the 1st quarter valued at about $540,000. Renaissance Technologies LLC bought a new stake in shares of ATRenew in the 1st quarter valued at approximately $2,368,000. Caxton Associates LLP acquired a new position in ATRenew in the first quarter worth approximately $351,000. Precision Wealth Strategies LLC increased its holdings in ATRenew by 17.7% in 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 last quarter. Finally, QRG Capital Management Inc. raised its position in ATRenew by 90.5% during the first quarter. QRG Capital Management Inc. now owns 50,924 shares of the company’s stock valued at $239,000 after acquiring an additional 24,192 shares in the last quarter. 19.29% of the stock is owned by hedge funds and other institutional investors.

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.