Renren Inc (RENN) Sees Significant Increase in Short Interest

Renren Inc (NYSE:RENN) was the recipient of a significant growth in short interest in June. As of June 29th, there was short interest totalling 1,573,738 shares, a growth of 96.8% from the June 15th total of 799,516 shares. Based on an average trading volume of 9,003,344 shares, the short-interest ratio is currently 0.2 days.

Renren opened at $2.45 on Wednesday, Marketbeat.com reports. The company has a quick ratio of 0.97, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. Renren has a fifty-two week low of $1.66 and a fifty-two week high of $18.70. The company has a market cap of $167.42 million, a PE ratio of -1.52 and a beta of 0.81.

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Renren (NYSE:RENN) last posted its quarterly earnings results on Monday, May 7th. The technology company reported ($0.79) earnings per share for the quarter. Renren had a negative net margin of 42.22% and a negative return on equity of 17.68%. The company had revenue of $97.06 million for the quarter. sell-side analysts predict that Renren will post -0.44 EPS for the current year.

The business also recently declared a dividend, which was paid on Thursday, June 21st. Stockholders of record on Thursday, June 14th were paid a dividend of $9.1875 per share. The ex-dividend date was Friday, June 22nd.

Separately, ValuEngine downgraded shares of Renren from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Renren by 1.9% during the fourth quarter. BlackRock Inc. now owns 336,256 shares of the technology company’s stock valued at $3,494,000 after acquiring an additional 6,297 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Renren during the fourth quarter valued at approximately $107,000. Aperio Group LLC bought a new stake in shares of Renren during the first quarter valued at approximately $117,000. Guggenheim Capital LLC raised its stake in shares of Renren by 34.1% during the fourth quarter. Guggenheim Capital LLC now owns 55,590 shares of the technology company’s stock valued at $577,000 after acquiring an additional 14,142 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Renren during the fourth quarter valued at approximately $150,000. 2.52% of the stock is owned by hedge funds and other institutional investors.

About Renren

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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