ATRenew (NYSE:RERE) Sees Large Volume Increase - Still a Buy?

Shares of ATRenew Inc. (NYSE:RERE - Get Free Report) saw an uptick in trading volume on Tuesday . 533,547 shares traded hands during trading, a decline of 7% from the previous session's volume of 573,477 shares.The stock last traded at $2.95 and had previously closed at $2.86.

ATRenew Stock Performance

The stock's fifty day simple moving average is $2.85 and its two-hundred day simple moving average is $2.66. The stock has a market capitalization of $782.83 million, a P/E ratio of -64.19, a price-to-earnings-growth ratio of 0.42 and a beta of 0.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RERE. Walleye Capital LLC bought a new position in shares of ATRenew during the third quarter worth about $32,000. QRG Capital Management Inc. acquired a new stake in ATRenew during the 4th quarter valued at approximately $48,000. PFG Investments LLC acquired a new position in shares of ATRenew in the 3rd quarter worth approximately $95,000. Cubist Systematic Strategies LLC lifted its position in shares of ATRenew by 30.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company's stock worth $112,000 after purchasing an additional 11,011 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of ATRenew in the 4th quarter valued at $137,000. 19.29% of the stock is owned by institutional investors.

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.