ATRenew (NYSE:RERE) Sees Large Volume Increase

ATRenew Inc. (NYSE:RERE) shares saw an uptick in trading volume on Friday . 986,695 shares changed hands during trading, an increase of 1% from the previous session’s volume of 981,086 shares.The stock last traded at $2.09 and had previously closed at $2.09.

ATRenew Stock Up 6.7 %

The firm has a market capitalization of $543.83 million, a price-to-earnings ratio of -18.58, a PEG ratio of 0.43 and a beta of -0.19. The business’s 50-day simple moving average is $2.27 and its two-hundred day simple moving average is $1.74.

ATRenew (NYSE:RERE) last announced its quarterly earnings results on Monday, May 20th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). ATRenew had a negative net margin of 1.44% and a positive return on equity of 2.74%. The company had revenue of $505.68 million for the quarter, compared to analyst estimates of $493.00 million. Sell-side analysts anticipate that ATRenew Inc. will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. IvyRock Asset Management HK Ltd acquired a new position in shares of ATRenew in the fourth quarter valued at approximately $67,000. Virtu Financial LLC purchased a new position in ATRenew in the first quarter worth approximately $134,000. Finally, Lansdowne Partners UK LLP purchased a new position in ATRenew in the third quarter worth approximately $1,174,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.