Renren Inc. (RENN) Lifted to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Renren Inc. (NYSE:RENN) from a buy rating to a strong-buy rating in a report issued on Thursday.
Separately, ValuEngine upgraded shares of Renren from a sell rating to a hold rating in a research report on Friday, September 1st.
Renren (NYSE RENN) traded up $0.18 during trading on Thursday, reaching $11.45. 439,841 shares of the company’s stock traded hands, compared to its average volume of 409,108. The company has a current ratio of 1.46, a quick ratio of 1.42 and a debt-to-equity ratio of 0.11. Renren has a 12-month low of $6.01 and a 12-month high of $11.68.
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A number of institutional investors have recently bought and sold shares of RENN. Newman Dignan & Sheerar Inc. acquired a new position in Renren in the 3rd quarter worth approximately $111,000. Northern Trust Corp boosted its stake in Renren by 48.5% in the 2nd quarter. Northern Trust Corp now owns 29,146 shares of the technology company’s stock worth $177,000 after purchasing an additional 9,523 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of Renren during the 2nd quarter valued at $187,000. KCG Holdings Inc. acquired a new stake in shares of Renren during the 1st quarter valued at $187,000. Finally, Global X Management Co. LLC boosted its stake in shares of Renren by 249.0% during the 2nd quarter. Global X Management Co. LLC now owns 48,399 shares of the technology company’s stock valued at $295,000 after buying an additional 34,531 shares during the period. 2.65% of the stock is owned by hedge funds and other institutional investors.
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.
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