ATRenew (NYSE:RERE) Shares Gap Up – Time to Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.50, but opened at $4.77. ATRenew shares last traded at $4.6620, with a volume of 640,733 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Weiss Ratings downgraded shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

ATRenew Price Performance

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 24.48 and a beta of 0.25. The business’s fifty day moving average price is $4.85 and its 200-day moving average price is $5.09.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. ATRenew had a net margin of 1.60% and a return on equity of 9.87%. The firm had revenue of $893.46 million during the quarter, compared to analysts’ expectations of $856.02 million. Equities research analysts predict that ATRenew Inc. Sponsored ADR will post 0.39 earnings per share for the current fiscal year.

ATRenew Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, April 24th. Investors of record on Monday, April 6th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, April 6th. ATRenew’s payout ratio is 50.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN bought a new stake in ATRenew in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd raised its position in ATRenew by 10,014.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after acquiring an additional 6,409 shares during the period. Brevan Howard Capital Management LP bought a new stake in ATRenew in the third quarter worth about $49,000. Hsbc Holdings PLC bought a new stake in ATRenew in the fourth quarter worth about $67,000. Finally, Van ECK Associates Corp bought a new stake in ATRenew in the third quarter worth about $83,000. 19.29% of the stock is currently owned by hedge funds and other 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.