ATRenew (NYSE:RERE) Sees Large Volume Increase – Should You Buy?

ATRenew Inc. (NYSE:RERE) shares saw unusually-high trading volume on Monday . Approximately 319,769 shares changed hands during trading, a decline of 39% from the previous session’s volume of 524,424 shares.The stock last traded at $2.49 and had previously closed at $2.62.

ATRenew Stock Performance

The stock has a 50 day moving average of $2.85 and a two-hundred day moving average of $2.62. The firm has a market capitalization of $592.61 million, a P/E ratio of -48.59, a P/E/G ratio of 0.60 and a beta of 0.11.

Institutional Trading of ATRenew

Large investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after acquiring an additional 649,214 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd acquired a new position in shares of ATRenew during the 2nd quarter worth about $1,396,000. Harber Asset Management LLC boosted its stake in ATRenew by 14.6% during the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after purchasing an additional 139,842 shares during the period. Centiva Capital LP increased its position in ATRenew by 342.2% in the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock worth $210,000 after buying an additional 58,413 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of 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 last quarter. 19.29% of the stock is 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.