ATRenew (NYSE:RERE) Shares Down 3.4%

Shares of ATRenew Inc. (NYSE:RERE) traded down 3.4% during mid-day trading on Wednesday . The company traded as low as $2.27 and last traded at $2.28. 277,847 shares were traded during mid-day trading, a decline of 71% from the average session volume of 969,905 shares. The stock had previously closed at $2.36.

ATRenew Price Performance

The firm’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.20. The company has a market cap of $556.03 million, a price-to-earnings ratio of -18.25, a P/E/G ratio of 0.54 and a beta of -0.18.

ATRenew (NYSE:RERE) last posted 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). ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. The firm had revenue of $519.69 million for the quarter, compared to analyst estimates of $514.00 million. As a group, equities analysts forecast that ATRenew Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATRenew

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in ATRenew in the second quarter worth about $3,328,000. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in ATRenew during the second quarter valued at approximately $1,396,000. Marshall Wace LLP boosted its holdings in ATRenew by 231.8% during the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after buying an additional 134,151 shares in the last quarter. Renaissance Technologies LLC grew its position in ATRenew by 26.0% in the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after buying an additional 115,853 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of ATRenew in the first quarter valued at $134,000. Institutional investors and hedge funds 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.