ATRenew (NYSE:RERE) Upgraded at Wall Street Zen

ATRenew (NYSE:RERE) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, ATRenew presently has an average rating of “Hold”.

ATRenew Stock Down 5.5%

ATRenew stock opened at $4.86 on Friday. The stock’s 50 day moving average is $5.73 and its 200 day moving average is $4.97. ATRenew has a one year low of $2.00 and a one year high of $6.47.

ATRenew (NYSE:RERE) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $893.92 million for the quarter, compared to analysts’ expectations of $887.75 million. ATRenew had a net margin of 1.60% and a return on equity of 9.87%. On average, equities research analysts forecast that ATRenew will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several hedge funds have recently bought and sold shares of RERE. Wells Fargo & Company MN bought a new stake in ATRenew during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd grew its position in shares of ATRenew by 10,014.1% during the 4th 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 in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of ATRenew during the 3rd quarter valued at $49,000. Hsbc Holdings PLC bought a new position in shares of ATRenew in the fourth quarter worth $67,000. Finally, Van ECK Associates Corp bought a new position in shares of ATRenew in the third quarter worth $83,000. Hedge funds and other institutional investors 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. The company was formerly known as AiHuiShou International Co Ltd.