ATRenew (NYSE:RERE) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of ATRenew (NYSE:RERE) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Several other research analysts have also recently issued reports on the company. UBS Group initiated coverage on ATRenew in a research note on Tuesday. They issued a “buy” rating and a $5.50 price target for the company. Weiss Ratings cut shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, ATRenew presently has an average rating of “Moderate Buy” and an average price target of $5.50.

ATRenew Trading Up 2.4%

NYSE:RERE opened at $3.89 on Friday. The stock has a 50 day moving average of $4.15 and a 200-day moving average of $4.90. The firm has a market capitalization of $854.12 million, a PE ratio of 15.57 and a beta of 0.29. ATRenew has a 52 week low of $3.07 and a 52 week high of $6.47.

ATRenew (NYSE:RERE) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.01 million. ATRenew had a return on equity of 11.48% and a net margin of 1.90%. As a group, analysts predict that ATRenew will post 0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On ATRenew

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of ATRenew during the 4th quarter valued at $1,847,000. Precision Wealth Strategies LLC acquired a new stake in shares of ATRenew in the fourth quarter valued at $1,334,000. Evergreen Quality Fund GP Ltd. bought a new position in ATRenew during the fourth quarter valued at about $1,429,000. Fideuram Asset Management Ireland dac bought a new position in ATRenew during the fourth quarter valued at about $4,764,000. Finally, Hsbc Holdings PLC bought a new position in ATRenew during the fourth quarter valued at about $67,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

About ATRenew

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms. The company was formerly known as AiHuiShou International Co Ltd.