ATRenew Inc. Sponsored ADR (NYSE:RERE) Sees Significant Growth in Short Interest

ATRenew Inc. Sponsored ADR (NYSE:RERE) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 3,366,308 shares, a growth of 44.9% from the February 26th total of 2,323,327 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 2,203,276 shares, the short-interest ratio is presently 1.5 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wall Street Zen raised ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Weiss Ratings reiterated 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, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

ATRenew Stock Down 1.6%

ATRenew stock traded down $0.08 during midday trading on Monday, reaching $4.74. The company’s stock had a trading volume of 496,938 shares, compared to its average volume of 1,345,176. The company has a market cap of $1.04 billion, a P/E ratio of 23.61 and a beta of 0.19. The business has a 50-day simple moving average of $5.62 and a 200-day simple moving average of $5.00. ATRenew has a fifty-two week low of $2.00 and a fifty-two week high of $6.47.

ATRenew (NYSE:RERE) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.12 earnings per share (EPS) for the quarter. ATRenew had a return on equity of 9.87% and a net margin of 1.60%.The business had revenue of $893.92 million during the quarter. As a group, equities analysts forecast that ATRenew will post 0.09 earnings per share for the current year.

ATRenew Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, April 24th. Shareholders of record on Monday, April 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, April 6th. ATRenew’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RERE. Cubist Systematic Strategies LLC raised its position in ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock valued at $194,000 after purchasing an additional 9,094 shares during the last quarter. Caxton Associates LLP acquired a new stake in ATRenew during the 1st quarter worth $114,000. JPMorgan Chase & Co. grew its position in ATRenew by 160.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock worth $1,759,000 after purchasing an additional 327,715 shares during the last quarter. XTX Topco Ltd acquired a new position in ATRenew in the second quarter valued at $483,000. Finally, Marshall Wace LLP increased its stake in ATRenew by 14.2% in the second quarter. Marshall Wace LLP now owns 561,536 shares of the company’s stock valued at $1,859,000 after purchasing an additional 69,801 shares during the period. 19.29% of the stock is 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.