Lazard Asset Management LLC Acquires Shares of 115,218 ATRenew Inc. Sponsored ADR $RERE

Lazard Asset Management LLC acquired a new position in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 115,218 shares of the company’s stock, valued at approximately $540,000. Lazard Asset Management LLC owned approximately 0.05% of ATRenew at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Precision Wealth Strategies LLC acquired a new position in ATRenew during the 4th quarter worth approximately $1,334,000. Evergreen Quality Fund GP Ltd. acquired a new stake in ATRenew in the fourth quarter valued at approximately $1,429,000. Fideuram Asset Management Ireland dac acquired a new stake in ATRenew in the fourth quarter valued at approximately $4,764,000. Brevan Howard Capital Management LP purchased a new stake in shares of ATRenew during the third quarter valued at approximately $49,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after purchasing an additional 6,409 shares during the period. Hedge funds and other institutional investors own 19.29% of the company’s stock.

Wall Street Analysts Forecast Growth

RERE has been the subject of several analyst reports. Wall Street Zen downgraded shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research note on Wednesday, July 29th. Finally, UBS Group began coverage on shares of ATRenew in a report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, ATRenew currently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

ATRenew Stock Up 1.3%

Shares of NYSE RERE opened at $4.42 on Friday. ATRenew Inc. Sponsored ADR has a fifty-two week low of $3.45 and a fifty-two week high of $6.47. The business has a 50 day moving average price of $4.05 and a two-hundred day moving average price of $4.78. The firm has a market cap of $968.65 million, a PE ratio of 17.66 and a beta of 0.31.

ATRenew (NYSE:RERE) last announced its earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The company had revenue of $893.46 million for the quarter, compared to analyst estimates of $856.01 million. On average, analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current year.

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.