Renren (NYSE:RENN) Stock Passes Above Two Hundred Day Moving Average of $2.21

Renren Inc (NYSE:RENN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.21 and traded as high as $2.81. Renren shares last traded at $2.71, with a volume of 10,704 shares.

Several research firms have issued reports on RENN. ValuEngine raised shares of Renren from a “sell” rating to a “hold” rating in a report on Monday, May 4th. Zacks Investment Research raised shares of Renren from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Friday, May 29th.

The stock has a market capitalization of $62.14 million, a PE ratio of -2.82 and a beta of 2.52. The business’s fifty day moving average price is $3.65 and its two-hundred day moving average price is $2.21.

A hedge fund recently raised its stake in Renren stock. Raymond James & Associates increased its stake in shares of Renren Inc (NYSE:RENN) by 51.0% during 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 about 0.13% of Renren worth $25,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.91% of the company’s stock.

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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