ATRenew (NYSE:RERE – Get Free Report) issued its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01, Zacks reports. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The firm had revenue of $893.46 million for the quarter, compared to analyst estimates of $856.01 million.
ATRenew Stock Up 2.9%
ATRenew stock traded up $0.12 during midday trading on Monday, hitting $4.04. 265,726 shares of the stock were exchanged, compared to its average volume of 1,199,242. ATRenew has a 52-week low of $2.67 and a 52-week high of $6.47. The stock has a market capitalization of $887.47 million, a price-to-earnings ratio of 16.18 and a beta of 0.26. The business’s 50-day moving average price is $4.57 and its 200-day moving average price is $5.15.
Institutional Investors Weigh In On ATRenew
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its stake in ATRenew by 29.4% in the 4th quarter. Squarepoint Ops LLC now owns 38,701 shares of the company’s stock valued at $205,000 after purchasing an additional 8,785 shares during the period. Two Sigma Investments LP purchased a new stake in shares of ATRenew during the 3rd quarter valued at $201,000. Cubist Systematic Strategies LLC raised its stake in shares of 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 period. Caxton Associates LLP bought a new stake in shares of ATRenew during the 1st quarter worth $114,000. Finally, Prelude Capital Management LLC purchased a new position in shares of ATRenew in the 3rd quarter worth about $113,000. Hedge funds and other institutional investors own 19.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on RERE
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. The company was formerly known as AiHuiShou International Co Ltd.
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