Renren (NYSE:RENN) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Renren (NYSE:RENN) from a sell rating to a hold rating in a report issued on Tuesday morning, ValuEngine reports.

Separately, Zacks Investment Research cut Renren from a hold rating to a sell rating in a report on Friday, December 27th.

RENN traded down $0.01 during trading on Tuesday, reaching $1.01. 52,744 shares of the stock traded hands, compared to its average volume of 49,248. The stock has a market capitalization of $21.41 million, a PE ratio of -1.05 and a beta of 0.90. The stock’s 50-day moving average is $1.28 and its 200 day moving average is $1.05. The company has a quick ratio of 0.80, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. Renren has a 12 month low of $0.45 and a 12 month high of $7.26.

A hedge fund recently raised its stake in Renren stock. Raymond James & Associates grew its holdings in shares of Renren Inc (NYSE:RENN) by 51.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,620 shares of the technology company’s stock after buying an additional 10,000 shares during the quarter. Raymond James & Associates owned 0.13% of Renren worth $25,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 4.38% 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.

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