ATRenew Inc. (NYSE:RERE) Sees Significant Decrease in Short Interest

ATRenew Inc. (NYSE:RERE - Get Free Report) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 247,300 shares, a drop of 23.6% from the March 15th total of 323,700 shares. Based on an average trading volume of 795,600 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company's shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RERE. NewEdge Advisors LLC bought a new stake in shares of ATRenew in the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of ATRenew in the 1st quarter worth about $32,000. Harbour Capital Advisors LLC purchased a new stake in shares of ATRenew in the 1st quarter worth approximately $33,000. PFG Investments LLC purchased a new stake in shares of ATRenew in the first quarter worth $40,000. Finally, QRG Capital Management Inc. bought a new stake in ATRenew during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 19.29% of the company's stock.

ATRenew Price Performance

Shares of RERE traded up $0.16 during trading hours on Thursday, hitting $2.45. The stock had a trading volume of 1,026,345 shares, compared to its average volume of 1,165,276. The firm has a 50 day simple moving average of $2.81 and a 200-day simple moving average of $2.79. ATRenew has a 1-year low of $1.55 and a 1-year high of $3.70. The firm has a market capitalization of $596.27 million, a P/E ratio of -48.89, a price-to-earnings-growth ratio of 0.41 and a beta of 0.04.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.