ATRenew (NYSE:RERE) Trading Up 5.4%

Shares of ATRenew Inc. (NYSE:RERE) rose 5.4% during trading on Monday . The stock traded as high as $2.75 and last traded at $2.74. Approximately 620,704 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 977,416 shares. The stock had previously closed at $2.60.

ATRenew Trading Up 4.6 %

The company has a market capitalization of $663.33 million, a price-to-earnings ratio of -22.75, a PEG ratio of 0.51 and a beta of -0.17. The firm’s 50-day moving average price is $2.40 and its 200 day moving average price is $1.95.

ATRenew (NYSE:RERE) last announced its earnings results on Monday, May 20th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). ATRenew had a negative net margin of 1.44% and a positive return on equity of 2.74%. The company had revenue of $505.68 million during the quarter, compared to analysts’ expectations of $493.00 million. As a group, equities research analysts anticipate that ATRenew Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATRenew

A number of large investors have recently added to or reduced their stakes in RERE. Acadian Asset Management LLC bought a new stake in ATRenew in the second quarter worth $3,328,000. Renaissance Technologies LLC increased 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 worth $1,329,000 after buying an additional 115,853 shares during the period. Virtu Financial LLC bought a new stake in shares of ATRenew in the 1st quarter valued at about $134,000. Finally, IvyRock Asset Management HK Ltd purchased a new stake in ATRenew during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 19.29% of the company’s stock.

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.