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

ATRenew (NYSE:RERE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. UBS Group began coverage on shares of ATRenew in a research report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of ATRenew in a report on Wednesday, July 29th. Finally, CICC Research started coverage on shares of ATRenew in a research note on Thursday, August 20th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

ATRenew Price Performance

Shares of ATRenew stock opened at $3.92 on Friday. The firm has a market cap of $861.14 million, a price-to-earnings ratio of 13.53 and a beta of 0.33. ATRenew has a 52-week low of $3.50 and a 52-week high of $6.47. The stock has a 50-day simple moving average of $4.14 and a 200-day simple moving average of $4.43.

ATRenew (NYSE:RERE) last released its quarterly earnings data on Thursday, August 20th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $972.82 million for the quarter, compared to the consensus estimate of $930.34 million. ATRenew had a return on equity of 12.32% and a net margin of 2.01%. As a group, equities research analysts predict that ATRenew will post 0.37 earnings per share for the current year.

Hedge Funds Weigh In On ATRenew

A number of institutional investors have recently made changes to their positions in RERE. IvyRock Asset Management HK Ltd boosted its stake in ATRenew by 11.1% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock valued at $106,000 after purchasing an additional 2,000 shares during the period. QRG Capital Management Inc. grew its holdings in ATRenew by 90.5% in the 1st quarter. QRG Capital Management Inc. now owns 50,924 shares of the company’s stock valued at $239,000 after buying an additional 24,192 shares during the last quarter. Globeflex Capital L P bought a new position in ATRenew in the 4th quarter worth approximately $258,000. Caxton Associates LLP bought a new position in ATRenew in the 1st quarter worth approximately $351,000. Finally, Lazard Asset Management LLC acquired a new position in shares of ATRenew during the first quarter worth approximately $540,000. 19.29% of the stock is currently owned by institutional investors.

About ATRenew

ATRenew Inc (NYSE: RERE), formerly known as AiHuiShou, operates a technology-enabled platform for consumer electronics recycling and resale in China. The company focuses primarily on used mobile phones, tablets, laptops, cameras and other digital devices, helping consumers and businesses sell, trade in, recycle and purchase pre-owned electronics.

ATRenew’s services cover the resale process from device collection and inspection to data erasure, quality grading, pricing, refurbishment and fulfillment.