ATRenew Inc. Sponsored ADR $RERE Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) by 30.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,489,790 shares of the company’s stock after selling 1,108,711 shares during the period. Wellington Management Group LLP’s holdings in ATRenew were worth $9,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RERE. Renaissance Technologies LLC purchased a new position in shares of ATRenew in the 1st quarter valued at approximately $2,368,000. Lazard Asset Management LLC purchased a new stake in shares of ATRenew during the first quarter worth approximately $540,000. Evergreen Quality Fund GP Ltd. purchased a new stake in shares of ATRenew during the fourth quarter worth approximately $1,429,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of ATRenew during the fourth quarter worth $4,764,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after purchasing an additional 6,409 shares during the period. 19.29% of the stock is owned by institutional investors and hedge funds.

ATRenew Price Performance

RERE opened at $4.06 on Wednesday. ATRenew Inc. Sponsored ADR has a 12 month low of $3.50 and a 12 month high of $6.47. The stock has a market capitalization of $890.97 million, a P/E ratio of 14.00 and a beta of 0.33. The business has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $4.53.

ATRenew (NYSE:RERE) last announced its quarterly earnings data on Thursday, August 20th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. ATRenew had a return on equity of 12.32% and a net margin of 2.01%.The firm had revenue of $972.82 million for the quarter, compared to analyst estimates of $930.34 million. Research analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RERE shares. CICC Research started coverage on shares of ATRenew in a research report on Thursday, August 20th. They issued an “outperform” rating on the stock. UBS Group began coverage on shares of ATRenew in a research report on Tuesday, July 21st. They set a “buy” rating and a $5.50 price objective for the company. Wall Street Zen cut shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ATRenew currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

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.