ATRenew (NYSE:RERE) Trading Down 3.9% – Here’s What Happened

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s share price fell 3.9% during mid-day trading on Tuesday . The company traded as low as $3.95 and last traded at $3.93. Approximately 196,698 shares were traded during trading, a decline of 83% from the average daily volume of 1,151,554 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

Several research firms have recently commented on RERE. CICC Research initiated coverage on shares of ATRenew in a research note on Thursday, August 20th. They issued an “outperform” rating for the company. UBS Group started coverage on shares of ATRenew in a research report on Tuesday, July 21st. They set a “buy” rating and a $5.50 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of ATRenew in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ATRenew presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

ATRenew Stock Down 2.6%

The firm has a 50 day simple moving average of $4.10 and a 200-day simple moving average of $4.66. The stock has a market cap of $874.09 million, a P/E ratio of 13.67 and a beta of 0.31.

ATRenew (NYSE:RERE) last issued its earnings results on Thursday, August 20th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $972.82 million during 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%. On average, equities analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current year.

Hedge Funds Weigh In On ATRenew

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of ATRenew in the first quarter valued at approximately $2,368,000. Precision Wealth Strategies LLC acquired a new stake in ATRenew during the 4th quarter worth approximately $1,334,000. Evergreen Quality Fund GP Ltd. bought a new stake in ATRenew in the 4th quarter valued at $1,429,000. Lazard Asset Management LLC bought a new stake in ATRenew in the 1st quarter valued at $540,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in ATRenew in the 4th quarter valued at $4,764,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.