ATRenew (NYSE:RERE) Downgraded by Wall Street Zen to Buy

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

A number of other research analysts also recently commented on the stock. UBS Group initiated coverage on shares of ATRenew in a research note on Tuesday. They set a “buy” rating and a $5.50 price objective for the company. Weiss Ratings downgraded shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.50.

ATRenew Stock Performance

Shares of NYSE RERE opened at $3.89 on Friday. The firm’s 50 day moving average price is $4.15 and its 200 day moving average price is $4.90. The firm has a market cap of $854.12 million, a P/E ratio of 15.57 and a beta of 0.29. ATRenew has a 1 year low of $3.07 and a 1 year high of $6.47.

ATRenew (NYSE:RERE) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The business had revenue of $893.46 million during the quarter, compared to the consensus estimate of $856.01 million. As a group, equities analysts predict that ATRenew will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in shares of ATRenew during the fourth quarter worth about $23,190,000. Arrowstreet Capital Limited Partnership lifted its position in ATRenew by 98.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock worth $13,571,000 after acquiring an additional 1,466,383 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in ATRenew by 60.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,857,684 shares of the company’s stock worth $20,447,000 after acquiring an additional 1,450,764 shares during the period. Fideuram Asset Management Ireland dac purchased a new position in ATRenew in the 4th quarter worth approximately $4,764,000. Finally, Capitolis Liquid Global Markets LLC acquired a new stake in ATRenew in the fourth quarter valued at approximately $3,903,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

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.