ATRenew (NYSE:RERE) Shares Gap Down – Here’s What Happened

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $4.93, but opened at $4.50. ATRenew shares last traded at $4.77, with a volume of 1,481,440 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings cut ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

ATRenew Price Performance

The stock has a 50 day moving average price of $4.81 and a 200-day moving average price of $5.11. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 18.80 and a beta of 0.25.

ATRenew (NYSE:RERE) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $893.46 million for the quarter, compared to analyst estimates of $856.02 million. ATRenew had a return on equity of 11.48% and a net margin of 1.90%. As a group, research analysts forecast that ATRenew Inc. Sponsored ADR will post 0.39 earnings per share for the current year.

ATRenew Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, April 24th. Stockholders of record on Monday, April 6th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 6th. ATRenew’s payout ratio is currently 40.00%.

Hedge Funds Weigh In On ATRenew

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new position in ATRenew during the first quarter worth $540,000. Renaissance Technologies LLC acquired a new position in ATRenew during the first quarter worth $2,368,000. Caxton Associates LLP acquired a new position in ATRenew during the first quarter worth $351,000. Precision Wealth Strategies LLC boosted its stake in ATRenew by 17.7% during the first quarter. Precision Wealth Strategies LLC now owns 296,399 shares of the company’s stock worth $1,390,000 after buying an additional 44,659 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in ATRenew by 90.5% during the first quarter. QRG Capital Management Inc. now owns 50,924 shares of the company’s stock worth $239,000 after buying an additional 24,192 shares during the last quarter. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.