ATRenew (NYSE:RERE) Trading Down 3.2% – Time to Sell?

Shares of ATRenew Inc. (NYSE:RERE) dropped 3.2% during mid-day trading on Monday . The company traded as low as $2.68 and last traded at $2.69. Approximately 207,048 shares were traded during trading, a decline of 80% from the average daily volume of 1,040,047 shares. The stock had previously closed at $2.78.

ATRenew Stock Performance

The firm has a market capitalization of $665.77 million, a P/E ratio of -22.33, a PEG ratio of 0.62 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 $2.34.

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

Institutional Trading of ATRenew

Hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in ATRenew during the second quarter worth about $3,328,000. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of ATRenew during the second quarter worth $1,396,000. Renaissance Technologies LLC boosted its holdings in shares of ATRenew by 26.0% in the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after acquiring an additional 115,853 shares during the period. Virtu Financial LLC purchased a new position in shares of ATRenew in the first quarter valued at $134,000. Finally, Marshall Wace LLP raised its stake in shares of ATRenew by 231.8% during the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after purchasing an additional 134,151 shares during the period. 19.29% of the stock is currently owned by institutional investors.

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.