Renren Inc. [RENN] moved down -18.86: Why It’s Important

Renren Inc. [NYSE: RENN] plunged by -$0.42 during the normal trading session on Thursday and reaching a high of $2.50 during the day while it closed the day at $1.82. The company report on December 21, 2022 that Renren Reports Unaudited Financial Results for the Nine Months Ended September 30, 2022.

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Renren Inc. (NYSE: RENN) (“Renren” or the “Company”), which operates two US-based SaaS businesses, Chime Technologies Inc.© and Trucker Path Inc.©, today reports its unaudited financial results for the nine months ended September 30, 2022 for informational purposes only.

On November 3, 2022, the Company declared a special cash distribution in connection with the settlement contemplated by the Stipulation of Settlement, dated as of October 7, 2021 and as amended on May 27, 2022. The trading price for Renren’s American Depositary Shares (“ADSs”) on and around the ex-dividend date for the special cash distribution (i.e. December 22, 2022) is expected to be much lower than the closing price on the last trading date before the ex-dividend date, to reflect the amount of the special cash distribution. To the extent that Renren’s ADSs trade below US$1.00 per ADS for an extended period of time, or at a price viewed to be an abnormally low selling price under NYSE rules, Renren’s ADSs may be suspended from trading on the NYSE and ultimately delisted. To assist in stabilizing the ADS trading price and address this risk, Renren’s board of directors has authorized a share repurchase program under which the Company may repurchase up to US$10 million of its shares (including those represented by ADSs), effective for up to one year following commencement of the repurchase program. The Company’s proposed repurchases may be made on the open market at prevailing market prices from time to time as market conditions warrant in accordance with the applicable requirements of Rule 10b5-1 and Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as amended. The Company is considering repurchasing Renren’s ADSs in accordance with its repurchase program.

Renren Inc. stock has also loss -15.59% of its value over the past 7 days. However, RENN stock has declined by -7.24% in the 3 months of the year. Over the past six months meanwhile, it has lost -7.43% and gained 87.16% year-on date.

The market cap for RENN stock reached $45.66 million, with 25.11 million shares outstanding and 15.91 million shares in the current float. Compared to the average trading volume of 1.39M shares, RENN reached a trading volume of 2312074 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Renren Inc. [RENN]:

Oppenheimer have made an estimate for Renren Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on May 15, 2013. The new note on the price target was released on May 31, 2012, representing the official price target for Renren Inc. stock. Previously, the target price had yet another raise to $4.50, while Maxim Group analysts kept a Sell rating on RENN stock.

The Average True Range (ATR) for Renren Inc. is set at 0.08, with the Price to Sales ratio for RENN stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 0.31.

RENN stock trade performance evaluation

Renren Inc. [RENN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.59. With this latest performance, RENN shares dropped by -16.57% in over the last four-week period, additionally sinking by -7.43% over the last 6 months – not to mention a rise of 119.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RENN stock in for the last two-week period is set at 23.92, with the RSI for the last a single of trading hit 5.18, and the three-weeks RSI is set at 8.35 for Renren Inc. [RENN]. The present Moving Average for the last 50 days of trading for this stock 31.65, while it was recorded at 26.60 for the last single week of trading, and 28.69 for the last 200 days.

Renren Inc. [RENN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Renren Inc. [RENN] shares currently have an operating margin of -72.67 and a Gross Margin at +78.77. Renren Inc.’s Net Margin is presently recorded at -319.01.

Return on Equity for this stock declined to -80.68, with Return on Assets sitting at -53.55.

Renren Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

Renren Inc. [RENN]: Insider Ownership positions

There are presently around $9 million, or 28.70% of RENN stock, in the hands of institutional investors. The top three institutional holders of RENN stocks are: OASIS MANAGEMENT CO LTD. with ownership of 2,829,216, which is approximately -1.607% of the company’s market cap and around 12.26% of the total institutional ownership; ALTA FUNDAMENTAL ADVISERS LLC, holding 561,373 shares of the stock with an approximate value of $1.02 million in RENN stocks shares; and TWO SEAS CAPITAL LP, currently with $0.92 million in RENN stock with ownership of nearly 26.473% of the company’s market capitalization.

Positions in Renren Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 13 institutional holders increased their position in Renren Inc. [NYSE:RENN] by around 633,657 shares. Additionally, 16 investors decreased positions by around 1,036,499 shares, while 6 investors held positions by with 3,515,368 shares. The mentioned changes placed institutional holdings at 5,185,524 shares, according to the latest SEC report filing. RENN stock had 6 new institutional investments in for a total of 87,955 shares, while 5 institutional investors sold positions of 569,518 shares during the same period.

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