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

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) 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 traded.

Analyst Upgrades and Downgrades

RERE has been the topic of several research reports. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Weiss Ratings lowered shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

ATRenew Stock Up 9.0%

The firm’s 50-day moving average price is $4.85 and its 200-day moving average price is $5.09. The company has a market cap of $1.08 billion, a P/E ratio of 24.48 and a beta of 0.25.

ATRenew (NYSE:RERE) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. ATRenew had a net margin of 1.60% and a return on equity of 9.87%. The company had revenue of $893.46 million for the quarter, compared to analyst estimates of $856.02 million. As a group, analysts forecast that ATRenew Inc. Sponsored ADR will post 0.39 earnings per share for the current year.

ATRenew Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, April 24th. Stockholders of record on Monday, April 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 6th. ATRenew’s payout ratio is 50.00%.

Institutional Trading of ATRenew

Hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in ATRenew during the 3rd quarter worth approximately $2,466,000. SG Americas Securities LLC bought a new stake in ATRenew during the 4th quarter worth approximately $1,847,000. Parametrica Management Ltd increased its holdings in ATRenew by 260.0% during the 3rd quarter. Parametrica Management Ltd now owns 544,946 shares of the company’s stock worth $2,507,000 after acquiring an additional 393,566 shares during the period. New York State Common Retirement Fund bought a new stake in ATRenew during the 3rd quarter worth approximately $903,000. Finally, Citigroup Inc. increased its holdings in ATRenew by 109,141.5% during the 3rd quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock worth $5,181,000 after acquiring an additional 1,125,249 shares during the period. Institutional investors own 19.29% of the company’s stock.

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.