BRIGHT VALLEY CAPITAL Ltd Purchases Shares of 589,128 ATRenew Inc. (NYSE:RERE)

BRIGHT VALLEY CAPITAL Ltd purchased a new stake in ATRenew Inc. (NYSE:RERE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 589,128 shares of the company’s stock, valued at approximately $1,396,000. ATRenew accounts for about 1.6% of BRIGHT VALLEY CAPITAL Ltd’s investment portfolio, making the stock its 10th largest position. BRIGHT VALLEY CAPITAL Ltd owned approximately 0.24% of ATRenew as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Cubist Systematic Strategies LLC lifted its holdings in shares of ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after acquiring an additional 11,011 shares during the period. Virtu Financial LLC bought a new position in shares of ATRenew during the 1st quarter worth about $134,000. Renaissance Technologies LLC lifted its holdings in shares of ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after acquiring an additional 115,853 shares during the period. Marshall Wace LLP lifted its holdings in shares of ATRenew by 231.8% during the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after acquiring an additional 134,151 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of ATRenew during the 2nd quarter worth about $3,328,000. 19.29% of the stock is owned by institutional investors.

ATRenew Stock Up 9.9 %

Shares of ATRenew stock opened at $2.78 on Tuesday. The stock has a market capitalization of $677.96 million, a P/E ratio of -23.17, a price-to-earnings-growth ratio of 0.50 and a beta of -0.18. The company has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $2.27. ATRenew Inc. has a 12-month low of $1.01 and a 12-month high of $3.03.

ATRenew (NYSE:RERE) last announced its earnings results on Tuesday, August 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $519.69 million for the quarter, compared to analyst estimates of $514.00 million. ATRenew had a positive return on equity of 4.80% and a negative net margin of 0.99%. On average, equities analysts anticipate that ATRenew Inc. will post 0.16 earnings per share for the current year.

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.