Renren (RENN) Reaches New 12-Month Low at $1.55
Shares of Renren Inc (NYSE:RENN) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.55 and last traded at $1.58, with a volume of 3105 shares trading hands. The stock had previously closed at $1.70.
Separately, ValuEngine lowered shares of Renren from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd.
The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.07. The stock has a market cap of $119.02 million, a PE ratio of -1.03 and a beta of 0.56.
A number of hedge funds and other institutional investors have recently bought and sold shares of RENN. Aperio Group LLC purchased a new stake in Renren during the first quarter valued at about $117,000. Cubist Systematic Strategies LLC boosted its position in Renren by 189.4% during the second quarter. Cubist Systematic Strategies LLC now owns 50,867 shares of the technology company’s stock valued at $126,000 after buying an additional 33,292 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Renren during the second quarter valued at about $397,000. Dimensional Fund Advisors LP boosted its position in Renren by 192.8% during the first quarter. Dimensional Fund Advisors LP now owns 61,668 shares of the technology company’s stock valued at $518,000 after buying an additional 40,605 shares during the period. Finally, Global X Management Co LLC boosted its position in Renren by 806.5% during the second quarter. Global X Management Co LLC now owns 243,320 shares of the technology company’s stock valued at $601,000 after buying an additional 216,478 shares during the period. Institutional investors and hedge funds own 3.44% of the company’s stock.
About Renren (NYSE:RENN)
Renren Inc operates a social networking Internet platform in the People's Republic of China. It operates through two segments, Renren and Auto Group. The company operates Renren.com and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and woxiu.com, a PC-based social video platform for users to stream their performances live to viewers.
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