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

Renren Inc (NYSE:RENN) has been given an average broker rating score of 4.00 (Sell) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation.

Brokerages have set a 1 year consensus target price of $1.70 for the company, according to Zacks. Zacks has also assigned Renren an industry rank of 222 out of 255 based on the ratings given to its competitors.

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

RENN stock opened at $1.50 on Friday. Renren has a 12 month low of $1.27 and a 12 month high of $10.44. The firm has a market capitalization of $103.64 million, a P/E ratio of -0.93 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.55 and a debt-to-equity ratio of 0.17.

A number of institutional investors have recently made changes to their positions in RENN. Bank of Montreal Can raised its position in Renren by 30.4% during the 4th quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock worth $92,000 after buying an additional 14,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Renren during the 3rd quarter worth $316,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Renren by 53.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 246,839 shares of the technology company’s stock worth $348,000 after buying an additional 85,989 shares during the last quarter. Institutional investors own 1.42% of the company’s stock.

About Renren

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.

See Also: Earnings Per Share (EPS)

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