ATRenew (NYSE:RERE) Reaches New 52-Week High – Should You Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) reached a new 52-week high during trading on Monday . The stock traded as high as $5.70 and last traded at $5.6950, with a volume of 1674158 shares trading hands. The stock had previously closed at $5.42.

Analysts Set New Price Targets

Several brokerages have issued reports on RERE. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

ATRenew Trading Up 8.3%

The firm’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.21. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 36.70 and a beta of 0.19.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Caxton Associates LLP purchased a new position in shares of ATRenew in the third quarter valued at approximately $626,000. Prelude Capital Management LLC purchased a new stake in ATRenew during the 3rd quarter worth approximately $113,000. Public Employees Retirement System of Ohio acquired a new stake in ATRenew during the 3rd quarter worth approximately $1,196,000. Nomura Holdings Inc. purchased a new position in ATRenew in the 3rd quarter valued at approximately $529,000. Finally, Millennium Management LLC grew its stake in shares of ATRenew by 965.2% in the third quarter. Millennium Management LLC now owns 217,661 shares of the company’s stock worth $1,001,000 after acquiring an additional 197,228 shares in the last quarter. 19.29% of the stock is currently 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. The company was formerly known as AiHuiShou International Co Ltd.