ATRenew Inc. (NYSE:RERE – Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 510,700 shares, a drop of 35.4% from the September 30th total of 790,900 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Investors Weigh In On ATRenew
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. PFG Investments LLC acquired a new position in shares of ATRenew during the 3rd quarter worth approximately $95,000. Cubist Systematic Strategies LLC increased its position in shares of ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after purchasing an additional 11,011 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of ATRenew during the 1st quarter worth approximately $134,000. Marshall Wace LLP increased its position in shares of ATRenew by 231.8% during the 2nd 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 last quarter. Finally, Renaissance Technologies LLC increased its position in shares of 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 Stock Performance
ATRenew stock traded up $0.06 during midday trading on Friday, reaching $2.58. The stock had a trading volume of 689,788 shares, compared to its average volume of 1,032,338. The firm’s fifty day simple moving average is $2.51 and its 200-day simple moving average is $2.39. ATRenew has a 1-year low of $1.01 and a 1-year high of $3.18. The stock has a market capitalization of $629.19 million, a P/E ratio of -21.50, a price-to-earnings-growth ratio of 0.60 and a beta of -0.16.
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.
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