Renren (NYSE:RENN) Share Price Crosses Above 200 Day Moving Average of $1.34

Shares of Renren Inc (NYSE:RENN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.34 and traded as high as $0.87. Renren shares last traded at $0.87, with a volume of 504 shares trading hands.

Separately, ValuEngine downgraded Renren from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

The business has a 50 day simple moving average of $0.88 and a 200 day simple moving average of $1.34. The company has a quick ratio of 0.74, a current ratio of 1.11 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $57.32 million, a PE ratio of 0.67 and a beta of 0.52.

Renren (NYSE:RENN) last announced its quarterly earnings data on Tuesday, June 11th. The technology company reported ($0.15) earnings per share (EPS) for the quarter. Renren had a negative return on equity of 27.86% and a net margin of 17.78%. The firm had revenue of $110.36 million during the quarter.

A number of institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV acquired a new stake in Renren during the first quarter worth about $25,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Renren by 9.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 287,185 shares of the technology company’s stock worth $279,000 after acquiring an additional 25,901 shares during the period. Finally, Morgan Stanley grew its holdings in Renren by 38.5% during the second quarter. Morgan Stanley now owns 539,121 shares of the technology company’s stock worth $523,000 after acquiring an additional 149,769 shares during the period. 1.46% of the stock is currently owned by hedge funds and other institutional investors.

About Renren (NYSE:RENN)

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.

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