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

ATRenew Inc. (NYSE:RERE - Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 510,700 shares, a decline of 35.4% from the September 30th total of 790,900 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On ATRenew

Hedge funds and other institutional investors have recently modified their holdings of the stock. PFG Investments LLC purchased a new stake in shares of ATRenew in the third quarter worth about $95,000. Cubist Systematic Strategies LLC raised its holdings in shares of ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company's stock worth $112,000 after acquiring an additional 11,011 shares in the last quarter. Virtu Financial LLC bought a new position in shares of ATRenew during the 1st quarter valued at approximately $134,000. Marshall Wace LLP boosted its position in shares of ATRenew by 231.8% during the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company's stock valued at $455,000 after acquiring an additional 134,151 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of ATRenew by 26.0% in the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company's stock valued at $1,329,000 after purchasing an additional 115,853 shares in the last quarter. Institutional investors own 19.29% of the company's stock.

ATRenew Stock Performance

Shares of NYSE RERE traded up $0.06 during trading on Friday, hitting $2.58. The company had a trading volume of 689,788 shares, compared to its average volume of 1,032,338. ATRenew has a 12 month low of $1.01 and a 12 month high of $3.18. The firm has a market capitalization of $629.19 million, a P/E ratio of -21.50, a price-to-earnings-growth ratio of 0.60 and a beta of -0.16. The stock has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $2.40.

ATRenew (NYSE:RERE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. As a group, analysts predict that ATRenew will post 0.16 EPS for the current year.

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.