ATRenew (NYSE:RERE) Posts Earnings Results, Beats Expectations By $0.05 EPS

ATRenew (NYSE:RERE) released its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05, FiscalAI reports. ATRenew had a net margin of 1.44% and a return on equity of 8.91%.

ATRenew Stock Performance

RERE opened at $6.21 on Wednesday. The company’s 50 day moving average is $5.76 and its 200-day moving average is $4.93. ATRenew has a 1-year low of $2.00 and a 1-year high of $6.47.

Hedge Funds Weigh In On ATRenew

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN acquired a new stake in ATRenew in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd grew its stake in shares of ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after buying an additional 6,409 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of ATRenew during the third quarter worth $49,000. Van ECK Associates Corp acquired a new position in shares of ATRenew during the third quarter worth $83,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of ATRenew in the 3rd quarter valued at $91,000. Institutional investors own 19.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research note on Monday, December 29th. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, ATRenew currently has an average rating of “Hold”.

About ATRenew

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.