Zacks: Renren Inc (RENN) Given $1.70 Average Target Price by Analysts

Renren Inc (NYSE:RENN) has been given a consensus broker rating score of 4.00 (Sell) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a sell rating.

Analysts have set a 1 year consensus target price of $1.70 for the company, according to Zacks. Zacks has also given Renren an industry rank of 207 out of 255 based on the ratings given to its competitors.

Separately, ValuEngine raised shares of Renren from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its stake in Renren by 30.4% during the fourth quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock valued at $92,000 after purchasing an additional 14,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Renren during the third quarter valued at $316,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Renren by 53.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 246,839 shares of the technology company’s stock valued at $348,000 after purchasing an additional 85,989 shares during the last quarter. Hedge funds and other institutional investors own 2.62% of the company’s stock.

RENN opened at $1.63 on Monday. The firm has a market capitalization of $112.46 million, a P/E ratio of -1.01 and a beta of 0.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 1.55. Renren has a 12-month low of $1.27 and a 12-month high of $10.44.

Renren Company Profile

Renren Inc operates a social networking Internet platform in the People's Republic of China. It operates through two segments, Renren and Auto Group. The company operates Renren.com and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and woxiu.com, a PC-based social video platform for users to stream their performances live to viewers.

Recommended Story: What are trading strategies for the 52-week high/low?

Get a free copy of the Zacks research report on Renren (RENN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Renren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renren and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply