ATRenew (NYSE:RERE) Upgraded by Wall Street Zen to Strong-Buy Rating

ATRenew (NYSE:RERE) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of ATRenew in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

ATRenew Trading Up 0.7%

NYSE:RERE opened at $4.10 on Friday. The stock has a 50 day moving average of $4.15 and a two-hundred day moving average of $3.67. ATRenew has a 12 month low of $2.00 and a 12 month high of $4.93. The firm has a market cap of $999.87 million, a P/E ratio of 25.63 and a beta of 0.22.

Institutional Investors Weigh In On ATRenew

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in ATRenew during the first quarter worth approximately $48,000. Brevan Howard Capital Management LP acquired a new stake in shares of ATRenew in the 3rd quarter worth $49,000. Van ECK Associates Corp purchased a new position in shares of ATRenew during the 3rd quarter worth $83,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of ATRenew during the 3rd quarter valued at about $91,000. Finally, Prelude Capital Management LLC acquired a new position in shares of ATRenew during the 3rd quarter valued at about $113,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.