Evergreen Quality Fund GP Ltd. Invests $1.43 Million in ATRenew Inc. Sponsored ADR $RERE

Evergreen Quality Fund GP Ltd. purchased a new stake in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 269,600 shares of the company’s stock, valued at approximately $1,429,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RERE. Arrowstreet Capital Limited Partnership raised its stake in ATRenew by 98.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock valued at $13,571,000 after purchasing an additional 1,466,383 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of ATRenew by 60.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,857,684 shares of the company’s stock valued at $20,447,000 after buying an additional 1,450,764 shares in the last quarter. Citigroup Inc. raised its position in ATRenew by 109,141.5% during the third quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock valued at $5,181,000 after buying an additional 1,125,249 shares during the period. Fideuram Asset Management Ireland dac purchased a new stake in ATRenew in the 4th quarter worth about $4,764,000. Finally, Capitolis Liquid Global Markets LLC acquired a new stake in ATRenew during the 4th quarter worth about $3,903,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RERE shares. Weiss Ratings downgraded ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, ATRenew has a consensus rating of “Hold”.

ATRenew Stock Performance

Shares of RERE opened at $3.97 on Thursday. The company’s 50 day moving average price is $4.54 and its 200 day moving average price is $5.15. ATRenew Inc. Sponsored ADR has a 52 week low of $2.76 and a 52 week high of $6.47. The company has a market capitalization of $869.92 million, a PE ratio of 15.86 and a beta of 0.26.

ATRenew (NYSE:RERE) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.02 million. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. On average, equities analysts forecast that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current fiscal year.

ATRenew 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. The company was formerly known as AiHuiShou International Co Ltd.