Renren Inc. (NYSE:RENN) has earned an average broker rating score of 4.00 (Sell) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a sell rating.
Brokerages have set a 12 month consensus price target of $1.90 for the company, according to Zacks. Zacks has also given Renren an industry rank of 17 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered Renren from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th.
A number of institutional investors have recently added to or reduced their stakes in RENN. BlackRock Group LTD increased its position in Renren by 49.3% in the second quarter. BlackRock Group LTD now owns 59,009 shares of the company’s stock valued at $105,000 after buying an additional 19,475 shares during the period. State Street Corp increased its position in Renren by 33.5% in the second quarter. State Street Corp now owns 132,319 shares of the company’s stock valued at $237,000 after buying an additional 33,182 shares during the period. Marshall Wace LLP increased its position in Renren by 55.5% in the second quarter. Marshall Wace LLP now owns 158,590 shares of the company’s stock valued at $284,000 after buying an additional 56,571 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Renren by 159.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 278,404 shares of the company’s stock valued at $498,000 after buying an additional 171,067 shares during the period. Finally, BlackRock Fund Advisors increased its position in Renren by 9,582.5% in the second quarter. BlackRock Fund Advisors now owns 366,966 shares of the company’s stock valued at $657,000 after buying an additional 363,176 shares during the period. Hedge funds and other institutional investors own 2.36% of the company’s stock.
Renren (NYSE:RENN) opened at 2.25 on Thursday. The firm’s market capitalization is $766.79 million. Renren has a 12 month low of $1.51 and a 12 month high of $3.77. The stock’s 50 day moving average price is $1.96 and its 200-day moving average price is $2.24.
Renren (NYSE:RENN) last posted its quarterly earnings data on Tuesday, August 16th. The company reported ($0.21) EPS for the quarter. The company had revenue of $10.38 million for the quarter, compared to analyst estimates of $10.78 million. Renren had a negative net margin of 399.29% and a negative return on equity of 22.60%. On average, analysts forecast that Renren will post ($0.30) earnings per share for the current year.
Renren Inc operates a real name social networking Internet platform in China. The Company enables users to connect and communicate with each other, share photos, and various features and services. The Company is developing Internet finance business to leverage its social networking services and user base in China, particularly focusing on the audience of college students and young people in China.
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