ATRenew (NYSE:RERE) Stock Price Up 8.4% – What’s Next?

ATRenew Inc. (NYSE:RERE) was up 8.4% on Tuesday . The company traded as high as $2.73 and last traded at $2.72. Approximately 344,761 shares were traded during trading, a decline of 67% from the average daily volume of 1,034,097 shares. The stock had previously closed at $2.51.

ATRenew Trading Up 4.8 %

The stock has a market cap of $641.38 million, a P/E ratio of -22.33, a PEG ratio of 0.60 and a beta of -0.16. The firm has a 50-day simple moving average of $2.52 and a two-hundred day simple moving average of $2.37.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ATRenew had a positive return on equity of 4.80% and a negative net margin of 0.99%. The company had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. Sell-side analysts predict that ATRenew Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of ATRenew

A number of hedge funds have recently added to or reduced their stakes in RERE. Acadian Asset Management LLC acquired a new position in ATRenew in the 2nd quarter worth about $3,328,000. BRIGHT VALLEY CAPITAL Ltd bought a new position in ATRenew in the 2nd quarter valued at approximately $1,396,000. Cubist Systematic Strategies LLC raised its stake in shares of ATRenew by 30.3% during the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock valued at $112,000 after acquiring an additional 11,011 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of ATRenew by 231.8% during the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after purchasing an additional 134,151 shares during the period. Finally, Renaissance Technologies LLC raised its position in ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after purchasing an additional 115,853 shares during the last quarter. Institutional investors and hedge funds own 19.29% of the company’s stock.

ATRenew Company 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.