ATRenew (NYSE:RERE) Sees Large Volume Increase

Shares of ATRenew Inc. (NYSE:RERE) saw an uptick in trading volume on Friday . 857,706 shares traded hands during trading, a decline of 13% from the previous session’s volume of 983,974 shares.The stock last traded at $2.33 and had previously closed at $2.20.

ATRenew Trading Up 7.7 %

The company has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $1.77.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Monday, May 20th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $505.68 million for the quarter, compared to the consensus estimate of $493.00 million. ATRenew had a negative net margin of 1.44% and a positive return on equity of 2.74%. On average, equities research analysts anticipate that ATRenew Inc. will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On ATRenew

Large investors have recently made changes to their positions in the business. IvyRock Asset Management HK Ltd purchased a new position in shares of ATRenew during the fourth quarter valued at approximately $67,000. Virtu Financial LLC purchased a new position in shares of ATRenew during the first quarter valued at approximately $134,000. Finally, Lansdowne Partners UK LLP purchased a new position in shares of ATRenew during the third quarter valued at approximately $1,174,000. 19.29% of the stock is currently owned by hedge funds and other 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.