Renren (RENN) Sees Strong Trading Volume

Shares of Renren Inc (NYSE:RENN) saw strong trading volume on Monday . 940 shares were traded during mid-day trading, a decline of 100% from the previous session’s volume of 213,384 shares.The stock last traded at $1.70 and had previously closed at $1.77.

Separately, ValuEngine upgraded shares of Renren from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

The company has a market capitalization of $122.25 million, a price-to-earnings ratio of -1.06 and a beta of 0.54. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.16.

Institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of Renren during the 1st quarter worth about $25,000. Bank of Montreal Can boosted its holdings in shares of Renren by 30.4% during the 4th quarter. Bank of Montreal Can now owns 60,052 shares of the technology company’s stock worth $92,000 after buying an additional 14,000 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Renren during the 3rd quarter worth about $316,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Renren by 6.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 262,509 shares of the technology company’s stock worth $404,000 after buying an additional 15,670 shares during the period. Institutional investors own 1.42% of the company’s stock.

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Renren Company Profile (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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