ATRenew (NYSE:RERE) rating downgraded to sell at Zacks Investment Research


To renew (NYSE: REREGet a rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “AiHuiShou International Co. Ltd. provides a technology-driven second-hand consumer electronics trading and service platform primarily in China. The company’s brand includes ATRenew. AiHuiShou International Co. Ltd. is based in SHANGHAI.”

Shares of ARenew stock opened at $2.64 on Friday. The company’s 50-day moving average price is $3.68 and its 200-day moving average price is $5.90. ATRenew has a 52-week low of $2.25 and a 52-week high of $18.49.

To renew (NYSE: REREGet a rating) last released its quarterly earnings data on Wednesday, March 9. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.44) by $0.41. On average, equity research analysts expect ATRenew to post earnings per share of -9.24 for the current fiscal year.

A number of hedge funds have recently increased or reduced their holdings in the stock. Citadel Advisors LLC acquired a new stake in ATRenew during Q3 valued at approximately $1,967,000. Bank of America Corp DE acquired a new stake in ATRenew during Q2 valued at approximately $1,048,000. Cubist Systematic Strategies LLC acquired a new stake in ATRenew during Q3 valued at approximately $322,000. Finally, Morgan Stanley acquired a new stake in ATRenew during Q3 valued at approximately $222,000. Institutional investors hold 11.46% of the company’s shares.

About ATRenew (Get a rating)

AiHuiShou International Co Ltd., through its subsidiaries, operates a used consumer electronics trading and service platform under the ATRenew brand in the People’s Republic of China. It mainly sells mobile phones, laptops, tablets, digital cameras, luxury goods, household products and books through its online platforms and offline stores, and provides services to third-party merchants for sell the products through its platforms.

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