ATRenew (NYSE:RERE) Shares Gap Down to $2.37

ATRenew Inc. (NYSE:RERE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $2.37, but opened at $2.30. ATRenew shares last traded at $2.40, with a volume of 39,745 shares changing hands.

ATRenew Stock Up 4.2 %

The company’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $1.78.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ATRenew stock. IvyRock Asset Management HK Ltd bought a new position in ATRenew Inc. (NYSE:RERE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,000 shares of the company’s stock, valued at approximately $67,000. ATRenew comprises 0.0% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 18th biggest holding. 19.29% of the stock is owned by hedge funds and other institutional investors.

ATRenew Company Profile

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.