ATRenew (NYSE:RERE) Trading Down 5.2% – Here’s What Happened

ATRenew Inc. Sponsored ADR (NYSE:REREGet Free Report)’s share price traded down 5.2% during mid-day trading on Friday . The stock traded as low as $3.86 and last traded at $3.8950. Approximately 332,662 shares were traded during trading, a decline of 71% from the average session volume of 1,164,747 shares. The stock had previously closed at $4.11.

Analysts Set New Price Targets

RERE has been the topic of a number of research reports. Weiss Ratings downgraded ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Get Our Latest Stock Report on RERE

ATRenew Stock Performance

The stock has a 50 day moving average of $4.24 and a two-hundred day moving average of $4.96. The firm has a market capitalization of $850.17 million, a P/E ratio of 15.50 and a beta of 0.29.

ATRenew (NYSE:REREGet Free Report) last announced its earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The firm had revenue of $893.46 million during the quarter, compared to analysts’ expectations of $856.01 million. Sell-side analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current year.

Institutional Trading of ATRenew

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in ATRenew by 10.3% in the 4th quarter. Van ECK Associates Corp now owns 19,794 shares of the company’s stock worth $105,000 after buying an additional 1,855 shares during the period. IvyRock Asset Management HK Ltd raised its stake in ATRenew by 11.1% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock valued at $106,000 after purchasing an additional 2,000 shares during the last quarter. Wells Fargo & Company MN bought a new stake in ATRenew in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in ATRenew by 10,014.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after purchasing an additional 6,409 shares during the period. Finally, Squarepoint Ops LLC grew its position in ATRenew by 29.4% in the 4th quarter. Squarepoint Ops LLC now owns 38,701 shares of the company’s stock worth $205,000 after purchasing an additional 8,785 shares during the last quarter. Institutional investors and hedge funds own 19.29% of the company’s stock.

About ATRenew

(Get Free Report)

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.

Further Reading

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