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

ATRenew (NYSE:RERE – Get 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. “

RERE traded up $0.07 during mid-day trading on Tuesday, reaching $2.49. 5,298 shares of the stock were exchanged, compared to its average volume of 491,001. The company has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $5.16. ATRenew has a 1 year low of $2.25 and a 1 year high of $18.49.

ATRenew (NYSE:RERE – Get Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.41. As a group, equities analysts anticipate that ATRenew will post -1.09 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Morgan Stanley purchased a new stake in ATRenew in the third quarter valued at approximately $222,000. Cubist Systematic Strategies LLC purchased a new position in shares of ATRenew during the third quarter worth approximately $322,000. Bank of America Corp DE purchased a new position in shares of ATRenew during the second quarter worth approximately $1,048,000. Prescott Group Capital Management L.L.C. raised its stake in shares of ATRenew by 111.5% during the first quarter. Prescott Group Capital Management L.L.C. now owns 114,000 shares of the company’s stock worth $404,000 after acquiring an additional 60,100 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of ATRenew during the third quarter worth approximately $1,967,000. 18.02% of the stock is currently owned by institutional investors.

ATRenew Company Profile (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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