ATRenew (NYSE:RERE) Shares Up 1.8% – Still a Buy?

ATRenew Inc. (NYSE:RERE)’s stock price was up 1.8% during mid-day trading on Friday . The company traded as high as $2.87 and last traded at $2.86. Approximately 163,656 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,063,802 shares. The stock had previously closed at $2.81.

ATRenew Trading Up 8.2 %

The firm has a market cap of $741.37 million, a P/E ratio of -60.79, a P/E/G ratio of 0.60 and a beta of 0.07. The stock has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $2.58.

Hedge Funds Weigh In On ATRenew

Several institutional investors have recently bought and sold shares of RERE. Acadian Asset Management LLC purchased a new stake in shares of ATRenew during the 2nd quarter valued at about $3,328,000. Harber Asset Management LLC grew its position in ATRenew by 14.6% in the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after acquiring an additional 139,842 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in ATRenew by 162.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after acquiring an additional 649,214 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in ATRenew during the second quarter worth approximately $1,396,000. Finally, Renaissance Technologies LLC raised its position in 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 during the period. Institutional investors own 19.29% of the company’s stock.

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.