ATRenew (NYSE:RERE) Trading 5.9% Higher – Still a Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares were up 5.9% during trading on Thursday . The stock traded as high as $4.21 and last traded at $4.2450. Approximately 295,455 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,155,292 shares. The stock had previously closed at $4.01.

Wall Street Analysts Forecast Growth

Several research firms have commented on RERE. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. Weiss Ratings cut shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

ATRenew Stock Down 5.9%

The stock has a market cap of $848.42 million, a price-to-earnings ratio of 15.47 and a beta of 0.29. The company’s fifty day moving average is $4.22 and its two-hundred day moving average is $4.95.

ATRenew (NYSE:RERE) last issued its earnings results on Friday, May 15th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $893.46 million during the quarter, compared to the consensus estimate of $856.01 million. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. Sell-side analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new stake in shares of ATRenew in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised 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 purchasing an additional 6,409 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in ATRenew during the 3rd quarter worth $49,000. Hsbc Holdings PLC acquired a new stake in ATRenew in the fourth quarter valued at about $67,000. Finally, Van ECK Associates Corp acquired a new stake in shares of ATRenew in the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.