ATRenew (NYSE:RERE) Shares Gap Up to $2.53

ATRenew Inc. (NYSE:RERE)’s share price gapped up prior to trading on Monday . The stock had previously closed at $2.53, but opened at $2.85. ATRenew shares last traded at $2.74, with a volume of 764,501 shares changing hands.

ATRenew Stock Performance

The company has a market capitalization of $651.14 million, a P/E ratio of -22.92, a PEG ratio of 0.50 and a beta of -0.18. The business has a fifty day moving average of $2.45 and a 200-day moving average of $2.26.

ATRenew (NYSE:RERE) last released 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). The business had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. ATRenew had a positive return on equity of 4.80% and a negative net margin of 0.99%. Sell-side analysts anticipate that ATRenew Inc. will post 0.16 EPS for the current year.

Institutional Trading of ATRenew

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC lifted its holdings in ATRenew by 30.3% in 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. Virtu Financial LLC bought a new position in shares of ATRenew in the 1st quarter worth approximately $134,000. Marshall Wace LLP lifted its stake in shares of ATRenew by 231.8% in the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after purchasing an additional 134,151 shares during the period. Renaissance Technologies LLC boosted its position in shares of ATRenew by 26.0% during the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after purchasing an additional 115,853 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd purchased a new stake in ATRenew in the second quarter worth $1,396,000. Institutional investors 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.