Renren (NYSE:RENN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Renren (NYSE:RENN – Get Rating) in a report published on Thursday. The firm issued a hold rating on the technology company’s stock.

Renren Trading Down 10.3 %

Shares of NYSE:RENN opened at $1.30 on Thursday. The firm’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $18.46. Renren has a fifty-two week low of $1.29 and a fifty-two week high of $33.91.

Renren (NYSE:RENN – Get Rating) last announced its quarterly earnings results on Wednesday, December 21st. The technology company reported ($0.06) earnings per share for the quarter. The company had revenue of $12.00 million for the quarter.

Institutional Trading of Renren

Hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC acquired a new stake in Renren during the 3rd quarter worth approximately $32,000. BlackRock Inc. raised its holdings in Renren by 1,034.6% during the 1st quarter. BlackRock Inc. now owns 1,736 shares of the technology company’s stock worth $38,000 after buying an additional 1,583 shares during the period. US Bancorp DE raised its holdings in Renren by 1,401.2% during the 3rd quarter. US Bancorp DE now owns 2,477 shares of the technology company’s stock worth $73,000 after buying an additional 2,312 shares during the period. UBS Group AG raised its holdings in Renren by 37,033.3% during the 1st quarter. UBS Group AG now owns 3,342 shares of the technology company’s stock worth $73,000 after buying an additional 3,333 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Renren by 103.0% in the first quarter. Royal Bank of Canada now owns 7,350 shares of the technology company’s stock valued at $161,000 after purchasing an additional 3,730 shares during the last quarter. 21.71% of the stock is currently owned by institutional investors and hedge funds.

Renren Company Profile

(Get Rating)

Renren, Inc engages in the Software as a Service (SaaS) business, which includes all-in-one real estate solution provider and a large community for the trucking industry in the United States. The company was founded by Chen Yi Zhou in November 2002 and is headquartered in Beijing, China.