ATRenew (NYSE:RERE) Shares Climb 4.5% – Should You Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s stock price rose 4.5% on Friday. The stock traded as high as $4.06 and last traded at $4.0350. Approximately 199,865 shares traded hands during trading, a decline of 80% from the average session volume of 1,006,996 shares. The stock had previously closed at $3.86.

Wall Street Analysts Forecast Growth

RERE has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research report on Tuesday, October 27th. UBS Group initiated coverage on ATRenew in a report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price target for the company. Wall Street Zen raised ATRenew from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Finally, CICC Research initiated coverage on ATRenew in a research note on Thursday, August 20th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

ATRenew Stock Performance

The stock has a market cap of $887.47 million, a PE ratio of 13.95 and a beta of 0.50. The stock has a fifty day simple moving average of $3.96 and a two-hundred day simple moving average of $4.51.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Thursday, August 20th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $972.82 million during the quarter, compared to the consensus estimate of $930.34 million. ATRenew had a net margin of 2.01% and a return on equity of 12.32%. On average, equities analysts predict that ATRenew Inc. Sponsored ADR will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On ATRenew

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in ATRenew during the 1st quarter valued at $2,368,000. Public Employees Retirement System of Ohio acquired a new position in ATRenew in the 2nd quarter worth $755,000. Lazard Asset Management LLC acquired a new position in ATRenew in the 1st quarter worth $540,000. Caxton Associates LLP purchased a new position in ATRenew in the 1st quarter valued at about $351,000. Finally, Prescott Group Capital Management L.L.C. boosted its position in ATRenew by 1.5% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 3,365,436 shares of the company’s stock valued at $12,553,000 after buying an additional 50,000 shares during the last quarter. 19.29% of the stock is owned by institutional investors and hedge funds.

ATRenew Company Profile

ATRenew Inc. operates a technology-enabled platform in China for recycling and reselling pre-owned consumer electronics, particularly smartphones. Through its Aihuishou brand, the company accepts devices from consumers and businesses, assesses their condition, and directs them to resale or other processing channels. The company connects online services with a network of physical stores and collection points, and works with e-commerce platforms and other partners to support trade-ins and device recycling.