ATRenew (NYSE:RERE) Upgraded by Wall Street Zen to “Strong-Buy” Rating

ATRenew (NYSE:RERE) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, ATRenew has an average rating of “Hold”.

ATRenew Trading Down 5.2%

RERE stock opened at $5.86 on Friday. The firm has a 50-day moving average price of $5.42 and a 200-day moving average price of $4.55. ATRenew has a 12 month low of $2.00 and a 12 month high of $6.47. The stock has a market capitalization of $1.51 billion, a P/E ratio of 36.63 and a beta of 0.19.

Institutional Investors Weigh In On ATRenew

Institutional investors and hedge funds have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of ATRenew in the second quarter worth approximately $406,000. XTX Topco Ltd acquired a new stake in ATRenew during the 2nd quarter valued at approximately $483,000. Acadian Asset Management LLC raised its holdings in ATRenew by 41.9% during the 2nd quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock worth $12,622,000 after purchasing an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its position in shares of ATRenew by 4.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock worth $10,444,000 after purchasing an additional 120,000 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of ATRenew in the 3rd quarter worth approximately $354,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.