Renren (RENN) Shares Down 6.8%
Renren Inc (NYSE:RENN) shares fell 6.8% during mid-day trading on Friday . The stock traded as low as $11.18 and last traded at $11.42. 1,802,405 shares traded hands during trading, a decline of 61% from the average session volume of 4,636,134 shares. The stock had previously closed at $12.25.
Separately, BidaskClub upgraded shares of Renren from a “sell” rating to a “hold” rating in a report on Saturday, September 23rd.
The company has a current ratio of 1.51, a quick ratio of 1.30 and a debt-to-equity ratio of 0.11.
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Renren Inc operates a real name social networking Internet platform in China. The Company enables users to connect and communicate with each other, share photos, and various features and services. The Company is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China.
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