Renren Inc (NYSE:RENN) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,063,200 shares, an increase of 5.1% from the April 30th total of 1,011,700 shares. Based on an average daily volume of 413,200 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.5% of the company’s shares are short sold.
Shares of Renren stock remained flat at $$1.00 during trading on Friday. 26,764 shares of the company traded hands, compared to its average volume of 109,693. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.11 and a quick ratio of 0.74. The stock has a market capitalization of $68.73 million, a PE ratio of 0.77 and a beta of 0.52. The business has a 50 day simple moving average of $1.14. Renren has a one year low of $0.87 and a one year high of $2.48.
Renren (NYSE:RENN) last issued its quarterly earnings results on Tuesday, May 14th. The technology company reported $0.12 EPS for the quarter. The business had revenue of $122.17 million for the quarter. Renren had a net margin of 17.78% and a negative return on equity of 27.86%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Renren during the first quarter valued at about $25,000. Bank of Montreal Can raised its holdings in shares of Renren by 30.4% in the 4th quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock worth $92,000 after acquiring an additional 14,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Renren by 6.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 262,509 shares of the technology company’s stock worth $404,000 after acquiring an additional 15,670 shares during the last quarter. Hedge funds and other institutional investors own 1.53% of the company’s stock.
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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