Short Interest in ATRenew Inc. (NYSE:RERE) Drops By 46.7%

ATRenew Inc. (NYSE:RERE - Get Free Report) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 280,700 shares, a drop of 46.7% from the January 15th total of 526,600 shares. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is presently 0.3 days.

ATRenew Trading Up 3.2 %

Shares of RERE stock traded up $0.10 during trading hours on Monday, hitting $3.08. 707,631 shares of the company's stock were exchanged, compared to its average volume of 577,898. The company has a market capitalization of $749.90 million, a PE ratio of -61.49, a PEG ratio of 0.42 and a beta of 0.10. ATRenew has a 12-month low of $1.07 and a 12-month high of $3.70. The business's 50 day simple moving average is $2.83 and its 200-day simple moving average is $2.68.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Man Group plc purchased a new position in shares of ATRenew in the fourth quarter worth $325,000. Millennium Management LLC increased its stake in shares of ATRenew by 252.3% in the fourth quarter. Millennium Management LLC now owns 659,508 shares of the company's stock worth $1,899,000 after buying an additional 472,322 shares during the period. Eschler Asset Management LLP purchased a new position in shares of ATRenew in the fourth quarter worth $248,000. Cubist Systematic Strategies LLC increased its stake in shares of ATRenew by 40.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,025 shares of the company's stock worth $164,000 after buying an additional 16,385 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of ATRenew in the fourth quarter worth $473,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

About ATRenew

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.