ATRenew (NYSE:RERE) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of ATRenew (NYSE:RERE) from a buy rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. CICC Research assumed coverage on ATRenew in a research report on Thursday, August 20th. They set an “outperform” rating on the stock. UBS Group started coverage on shares of ATRenew in a report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ATRenew in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

ATRenew Price Performance

NYSE:RERE opened at $3.93 on Friday. The firm has a market capitalization of $862.24 million, a price-to-earnings ratio of 13.55 and a beta of 0.33. ATRenew has a one year low of $3.50 and a one year high of $6.47. The business has a fifty day moving average price of $4.14 and a 200-day moving average price of $4.42.

ATRenew (NYSE:RERE) last released its earnings results on Thursday, August 20th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. ATRenew had a return on equity of 12.32% and a net margin of 2.01%.The company had revenue of $972.82 million for the quarter, compared to the consensus estimate of $930.34 million. On average, equities research analysts expect that ATRenew will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several large investors have recently made changes to their positions in the business. Fideuram Asset Management Ireland dac bought a new position in shares of ATRenew in the fourth quarter worth about $4,764,000. Renaissance Technologies LLC purchased a new position in ATRenew in the 1st quarter worth approximately $2,368,000. Precision Wealth Strategies LLC lifted its holdings in ATRenew by 17.7% in the 1st quarter. Precision Wealth Strategies LLC now owns 296,399 shares of the company’s stock worth $1,390,000 after purchasing an additional 44,659 shares in the last quarter. Evergreen Quality Fund GP Ltd. bought a new position in ATRenew in the 4th quarter worth approximately $1,429,000. Finally, Public Employees Retirement System of Ohio bought a new position in ATRenew in the 2nd quarter worth approximately $755,000. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

ATRenew Company Profile

ATRenew Inc (NYSE: RERE), formerly known as AiHuiShou, operates a technology-enabled platform for consumer electronics recycling and resale in China. The company focuses primarily on used mobile phones, tablets, laptops, cameras and other digital devices, helping consumers and businesses sell, trade in, recycle and purchase pre-owned electronics.

ATRenew’s services cover the resale process from device collection and inspection to data erasure, quality grading, pricing, refurbishment and fulfillment.