ATRenew Inc. (NYSE:RERE - Get Free Report) shares rose 8.4% during mid-day trading on Tuesday . The company traded as high as $2.73 and last traded at $2.72. Approximately 344,761 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,034,097 shares. The stock had previously closed at $2.51.
ATRenew Price Performance
The firm has a market cap of $640.16 million, a PE ratio of -21.83, a P/E/G ratio of 0.60 and a beta of -0.16. The business has a fifty day moving average price of $2.52 and a two-hundred day moving average price of $2.37.
ATRenew (NYSE:RERE - Get Free Report) last released its earnings results on Tuesday, August 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $519.69 million for the quarter, compared to analysts' expectations 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, sell-side analysts forecast that ATRenew Inc. will post 0.16 EPS for the current fiscal year.
Institutional Trading of ATRenew
Several hedge funds and other institutional investors have recently modified their holdings of RERE. Acadian Asset Management LLC acquired a new position in ATRenew in the 2nd quarter worth about $3,328,000. BRIGHT VALLEY CAPITAL Ltd acquired a new position in ATRenew in the second quarter worth approximately $1,396,000. Cubist Systematic Strategies LLC raised its position in ATRenew by 30.3% during the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company's stock valued at $112,000 after acquiring an additional 11,011 shares in the last quarter. Marshall Wace LLP lifted its stake in ATRenew by 231.8% in the second 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 position in ATRenew by 26.0% in the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company's stock worth $1,329,000 after acquiring an additional 115,853 shares in the last quarter. 19.29% of the stock is currently owned by hedge funds and other institutional investors.
About ATRenew
(
Get Free Report)
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.
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