ATRenew (NYSE:RERE) Lifted to Hold at Zacks Investment Research

ATRenew (NYSE:REREGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “AiHuiShou International Co. Ltd. provides technology-driven pre-owned consumer electronics transactions and services platform principally in China. The company’s brand includes ATRenew. AiHuiShou International Co. Ltd. is based in SHANGHAI. “

Shares of RERE stock opened at $2.70 on Tuesday. The stock has a 50 day simple moving average of $3.40 and a 200 day simple moving average of $5.58. ATRenew has a 1 year low of $2.25 and a 1 year high of $18.49.

ATRenew (NYSE:REREGet Rating) last issued its quarterly earnings results on Wednesday, March 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.41. As a group, analysts predict that ATRenew will post -9.24 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RERE. Morgan Stanley bought a new stake in ATRenew during the third quarter worth $222,000. Cubist Systematic Strategies LLC bought a new stake in ATRenew during the third quarter worth $322,000. Bank of America Corp DE bought a new stake in ATRenew during the second quarter worth $1,048,000. Finally, Citadel Advisors LLC bought a new stake in ATRenew during the third quarter worth $1,967,000. Hedge funds and other institutional investors own 18.02% of the company’s stock.

About ATRenew (Get Rating)

AiHuiShou International Co Ltd., through its subsidiaries, operates pre-owned consumer electronics transactions and services platform under the ATRenew brand name in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, digital cameras, luxury goods, household products, and books through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.

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