Renren (RENN) Shares Gap Up to $18.32
Renren Inc (NYSE:RENN) shares gapped up before the market opened on Thursday . The stock had previously closed at $23.25, but opened at $18.32. Renren shares last traded at $14.99, with a volume of 5543480 shares changing hands.
Separately, BidaskClub raised Renren from a “sell” rating to a “hold” rating in a research report on Saturday, September 23rd.
The company has a market cap of $1,040.00, a PE ratio of -1.39 and a beta of 0.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.30 and a current ratio of 1.51.
Large investors have recently made changes to their positions in the stock. Newman Dignan & Sheerar Inc. purchased a new position in shares of Renren during the third quarter valued at approximately $111,000. Northern Trust Corp boosted its position in Renren by 48.5% in the second 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 last quarter. Nomura Holdings Inc. purchased a new position in Renren in the second quarter worth $187,000. JPMorgan Chase & Co. boosted its position in Renren by 1,254.6% in the third quarter. JPMorgan Chase & Co. now owns 36,019 shares of the technology company’s stock worth $313,000 after purchasing an additional 33,360 shares during the last quarter. Finally, State Street Corp boosted its position in Renren by 6.3% in the second quarter. State Street Corp now owns 52,288 shares of the technology company’s stock worth $319,000 after purchasing an additional 3,105 shares during the last quarter. 2.41% of the stock is currently owned by institutional investors.
Renren Company Profile
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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