ATRenew (NYSE:RERE) Trading Down 6.7% – What’s Next?

ATRenew Inc. (NYSE:RERE)’s stock price traded down 6.7% during mid-day trading on Monday . The company traded as low as $2.78 and last traded at $2.79. 773,079 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,042,673 shares. The stock had previously closed at $2.99.

ATRenew Stock Down 1.1 %

The company has a market cap of $656.02 million, a PE ratio of -22.67, a price-to-earnings-growth ratio of 0.66 and a beta of -0.16. The firm has a 50 day simple moving average of $2.51 and a 200-day simple moving average of $2.31.

ATRenew (NYSE:RERE) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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 business had revenue of $519.69 million for the quarter, compared to analyst estimates of $514.00 million. As a group, equities analysts anticipate that ATRenew Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On ATRenew

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RERE. Acadian Asset Management LLC purchased a new stake in ATRenew in the second quarter valued at approximately $3,328,000. BRIGHT VALLEY CAPITAL Ltd acquired a new position in ATRenew during the 2nd quarter worth about $1,396,000. Renaissance Technologies LLC lifted its stake in 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 in the last quarter. Virtu Financial LLC purchased a new position in ATRenew during the 1st quarter valued at about $134,000. Finally, Cubist Systematic Strategies LLC grew its position in ATRenew by 30.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock valued at $112,000 after acquiring an additional 11,011 shares in the last quarter. 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.