Renren Inc. (RENN) Cut to Sell at Zacks Investment Research
According to Zacks, “Renren Inc. operates as a social networking internet platform in China offering information and content sharing, music, online games and online shopping and other services including communication. Its platform includes renren.com, our main social networking website, game.renren.com, our online games center, nuomi.com, our social commerce website, and jingwei.com and professional and business social networking service website. Renren Inc. “
Renren (NYSE:RENN) traded up 6.76% on Friday, hitting $8.53. 318,821 shares of the stock traded hands. Renren has a 52 week low of $7.55 and a 52 week high of $17.80. The firm’s 50 day moving average is $3.35 and its 200 day moving average is $2.25. The stock’s market cap is $581.93 million.
This report was posted by Daily Political and is the sole property of of Daily Political. If you are reading this report on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at http://www.dailypolitical.com/2017/02/16/renren-inc-renn-cut-to-sell-at-zacks-investment-research.html.
A hedge fund recently raised its stake in Renren stock. Global X Management Co. LLC increased its stake in Renren Inc. (NYSE:RENN) by 68.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,535 shares of the company’s stock after buying an additional 55,511 shares during the period. Global X Management Co. LLC’s holdings in Renren were worth $281,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 11.78% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Renren Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renren Inc. and related companies with MarketBeat.com's FREE daily email newsletter.