ATRenew (NYSE:RERE) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of ATRenew (NYSE:RERE) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on RERE. Weiss Ratings reissued a “hold (c)” rating on shares of ATRenew in a research report on Wednesday, July 29th. UBS Group initiated coverage on shares of ATRenew in a research note on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price target for the company. Finally, CICC Research assumed coverage on shares of ATRenew in a report on Thursday, August 20th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.50.

ATRenew Stock Performance

NYSE RERE opened at $3.94 on Friday. The firm has a market cap of $865.53 million, a price-to-earnings ratio of 13.60 and a beta of 0.33. The firm has a 50 day simple moving average of $4.14 and a 200-day simple moving average of $4.38. ATRenew has a one year low of $3.50 and a one year high of $6.47.

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

Institutional Investors Weigh In On ATRenew

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in ATRenew in the first quarter valued at $2,368,000. Precision Wealth Strategies LLC increased its position in shares of ATRenew by 17.7% during the first 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. acquired a new stake in shares of ATRenew during the fourth quarter worth about $1,429,000. Public Employees Retirement System of Ohio purchased a new stake in shares of ATRenew in the 2nd quarter valued at about $755,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of ATRenew in the 1st quarter valued at about $540,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.