ATRenew (NYSE:RERE) Trading 4.5% Higher

ATRenew Inc. (NYSE:RERE) shares were up 4.5% during mid-day trading on Wednesday . The company traded as high as $2.35 and last traded at $2.33. Approximately 1,092,379 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 990,940 shares. The stock had previously closed at $2.23.

ATRenew Trading Up 3.5 %

The firm has a fifty day moving average price of $2.44 and a 200 day moving average price of $2.07. The firm has a market cap of $577.98 million, a PE ratio of -19.75, a price-to-earnings-growth ratio of 0.56 and a beta of -0.17.

ATRenew (NYSE:RERE) last issued its earnings results on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ATRenew had a positive return on equity of 2.74% and a negative net margin of 1.44%. The firm had revenue of $519.69 million for the quarter, compared to analysts’ expectations of $514.00 million. As a group, equities analysts predict that ATRenew Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of ATRenew during the 2nd quarter worth about $1,396,000. Cubist Systematic Strategies LLC boosted its stake in ATRenew by 30.3% during the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after buying an additional 11,011 shares during the period. Marshall Wace LLP increased its position in shares of ATRenew by 231.8% during the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after acquiring an additional 134,151 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of ATRenew by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after acquiring an additional 115,853 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of ATRenew in the 2nd quarter valued at approximately $3,328,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.