ATRenew (NYSE:RERE) Shares Gap Down – Here’s What Happened

ATRenew Inc. Sponsored ADR (NYSE:RERE) gapped down before the market opened on Friday . The stock had previously closed at $4.93, but opened at $4.50. ATRenew shares last traded at $4.77, with a volume of 1,481,440 shares traded.

Analysts Set New Price Targets

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

ATRenew Stock Down 4.4%

The company has a market cap of $1.03 billion, a PE ratio of 18.80 and a beta of 0.25. The stock has a 50-day simple moving average of $4.81 and a 200 day simple moving average of $5.11.

ATRenew (NYSE:RERE) last posted its earnings results on Tuesday, May 19th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The company had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.02 million. As a group, research analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.39 earnings per share for the current fiscal year.

ATRenew Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, April 24th. Shareholders of record on Monday, April 6th were given a $0.10 dividend. The ex-dividend date was Monday, April 6th. ATRenew’s payout ratio is currently 40.00%.

Institutional Investors Weigh In On ATRenew

Several institutional investors and hedge funds have recently modified their holdings of RERE. Wellington Management Group LLP purchased a new stake in shares of ATRenew in the 4th quarter valued at $23,190,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of ATRenew by 98.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock valued at $13,571,000 after buying an additional 1,466,383 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of ATRenew by 60.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,857,684 shares of the company’s stock valued at $20,447,000 after buying an additional 1,450,764 shares during the period. Citigroup Inc. raised its holdings in shares of ATRenew by 109,141.5% in the 3rd quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock valued at $5,181,000 after buying an additional 1,125,249 shares during the period. Finally, Fideuram Asset Management Ireland dac purchased a new stake in shares of ATRenew in the 4th quarter valued at $4,764,000. 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.