Renren Inc (NYSE:RENN) was the recipient of a large growth in short interest in January. As of January 12th, there was short interest totalling 841,540 shares, a growth of 51.3% from the December 29th total of 556,308 shares. Based on an average daily trading volume, of 4,636,469 shares, the short-interest ratio is presently 0.2 days.
Separately, BidaskClub lowered shares of Renren from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th.
Renren (NYSE:RENN) opened at $10.13 on Thursday. The stock has a market cap of $692.93, a PE ratio of -4.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.51 and a quick ratio of 1.30. Renren has a 12-month low of $6.01 and a 12-month high of $18.70.
A number of institutional investors and hedge funds have recently made changes to their positions in RENN. Newman Dignan & Sheerar Inc. bought a new position in Renren in the 3rd quarter valued at about $111,000. Northern Trust Corp grew its position in Renren by 48.5% in the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock valued at $177,000 after buying an additional 9,523 shares in the last quarter. Nomura Holdings Inc. bought a new position in Renren in the 2nd quarter valued at about $187,000. JPMorgan Chase & Co. grew its position in Renren by 1,254.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 36,019 shares of the technology company’s stock valued at $313,000 after buying an additional 33,360 shares in the last quarter. Finally, State Street Corp grew its position in Renren by 6.3% in the 2nd quarter. State Street Corp now owns 52,288 shares of the technology company’s stock valued at $319,000 after buying an additional 3,105 shares in the last quarter. Hedge funds and other institutional investors own 2.36% of the company’s stock.
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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