Renren Inc (NYSE:RENN) Sees Significant Decrease in Short Interest

Renren Inc (NYSE:RENN) saw a large decrease in short interest in June. As of June 30th, there was short interest totalling 989,600 shares, a decrease of 6.2% from the May 30th total of 1,054,600 shares. Based on an average daily trading volume, of 403,400 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.3% of the company’s shares are sold short.

Separately, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

Shares of Renren stock opened at $1.00 on Friday. Renren has a 52 week low of $0.87 and a 52 week high of $2.48. The company has a fifty day simple moving average of $1.14. The firm has a market cap of $68.73 million, a price-to-earnings ratio of 0.77 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12.

Renren (NYSE:RENN) last announced its quarterly earnings results on Tuesday, May 14th. The technology company reported $0.12 EPS for the quarter. Renren had a negative return on equity of 27.86% and a net margin of 17.78%. The business had revenue of $122.17 million for the quarter.

An institutional investor recently bought a new position in Renren stock. Mercer Global Advisors Inc. ADV bought a new position in shares of Renren Inc (NYSE:RENN) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 19,877 shares of the technology company’s stock, valued at approximately $30,000. Hedge funds and other institutional investors own 1.53% of the company’s stock.

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 and Renren Mobile App that enable users to communicate and stay connected with friends, classmates, family members, and co-workers; and, a PC-based social video platform for users to stream their performances live to viewers.

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