Prescott Group Capital Management L.L.C. Purchases 120,000 Shares of ATRenew Inc. Sponsored ADR $RERE

Prescott Group Capital Management L.L.C. raised its holdings in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) by 4.0% during the second quarter, HoldingsChannel.com reports. The firm owned 3,155,436 shares of the company’s stock after buying an additional 120,000 shares during the period. ATRenew accounts for 1.2% of Prescott Group Capital Management L.L.C.’s portfolio, making the stock its 13th biggest position. Prescott Group Capital Management L.L.C.’s holdings in ATRenew were worth $10,444,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of ATRenew during the first quarter valued at about $48,000. Caxton Associates LLP acquired a new stake in ATRenew in the 1st quarter worth approximately $114,000. Cubist Systematic Strategies LLC grew its position in ATRenew by 15.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock worth $194,000 after purchasing an additional 9,094 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in ATRenew during the 2nd quarter valued at approximately $406,000. Finally, Eschler Asset Management LLP increased its stake in ATRenew by 163.6% during the 1st quarter. Eschler Asset Management LLP now owns 226,700 shares of the company’s stock valued at $666,000 after purchasing an additional 140,700 shares in the last quarter. 19.29% of the stock is owned by institutional investors and hedge funds.

ATRenew Price Performance

Shares of NYSE RERE opened at $3.96 on Friday. The stock has a market capitalization of $964.51 million, a price-to-earnings ratio of 32.96 and a beta of 0.22. The firm’s 50 day simple moving average is $4.22 and its 200-day simple moving average is $3.57. ATRenew Inc. Sponsored ADR has a 12 month low of $2.00 and a 12 month high of $4.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RERE shares. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a report on Wednesday, October 8th. Wall Street Zen cut ATRenew from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

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.