Renren (NYSE:RENN) Share Price Passes Above 200-Day Moving Average of $27.31

Renren Inc. (NYSE:RENNGet Rating)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.31 and traded as high as $29.89. Renren shares last traded at $29.89, with a volume of 30,320 shares.

Renren Price Performance

The business’s 50 day moving average is $28.93 and its 200 day moving average is $27.31.

Institutional Investors Weigh In On Renren

Institutional investors have recently modified their holdings of the stock. Oasis Management Co Ltd. acquired a new stake in shares of Renren during the 1st quarter valued at $66,648,000. UBS Group AG raised its holdings in shares of Renren by 33.2% during the 2nd quarter. UBS Group AG now owns 4,453 shares of the technology company’s stock valued at $129,000 after purchasing an additional 1,111 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Renren by 1,034.6% during the 1st quarter. BlackRock Inc. now owns 1,736 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,583 shares in the last quarter. Deep Field Asset Management LLC raised its holdings in shares of Renren by 73.1% during the 2nd quarter. Deep Field Asset Management LLC now owns 95,229 shares of the technology company’s stock valued at $2,754,000 after purchasing an additional 40,229 shares in the last quarter. Finally, Iszo Capital Management LP bought a new position in shares of Renren during the 2nd quarter valued at $4,238,000. Institutional investors and hedge funds own 23.40% of the company’s stock.

Renren Company Profile

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Renren Inc engages in the software as a service business in the People's Republic of China. The company develops Chime, a software as a service platform that offers customer relationship management, intelligent data exchange webpage service, and team management solutions for real estate professionals.

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