ATRenew (NYSE:RERE) Shares Gap Down – What’s Next?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares gapped down prior to trading on Thursday . The stock had previously closed at $4.59, but opened at $4.20. ATRenew shares last traded at $4.0750, with a volume of 1,228,606 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on RERE. CICC Research started coverage on shares of ATRenew in a research report on Thursday. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research note on Wednesday, July 29th. UBS Group assumed coverage on shares of ATRenew in a report on Tuesday, July 21st. They set a “buy” rating and a $5.50 price target for the company. Finally, Wall Street Zen cut ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, ATRenew has a consensus rating of “Moderate Buy” and an average target price of $5.50.

ATRenew Stock Down 8.5%

The company has a 50 day moving average price of $4.09 and a 200-day moving average price of $4.70. The company has a market cap of $921.48 million, a price-to-earnings ratio of 16.80 and a beta of 0.31.

ATRenew (NYSE:RERE) last posted its earnings results on Friday, August 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. The business had revenue of $972.82 million for the quarter, compared to the consensus estimate of $930.34 million. On average, analysts forecast that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RERE. Cubist Systematic Strategies LLC grew its position in shares of ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock valued at $194,000 after buying an additional 9,094 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of ATRenew in the first quarter worth approximately $114,000. JPMorgan Chase & Co. lifted its stake in shares of ATRenew by 160.9% in the second quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock worth $1,759,000 after acquiring an additional 327,715 shares during the period. Marshall Wace LLP boosted its holdings in ATRenew by 14.2% in the second quarter. Marshall Wace LLP now owns 561,536 shares of the company’s stock valued at $1,859,000 after acquiring an additional 69,801 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in ATRenew by 66.8% in the second quarter. Qube Research & Technologies Ltd now owns 267,728 shares of the company’s stock valued at $886,000 after acquiring an additional 107,267 shares during the last quarter. 19.29% of the stock is owned by institutional investors.

ATRenew Company Profile

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.