ATRenew (NYSE:RERE) Shares Up 5.4%

Shares of ATRenew Inc. (NYSE:RERE) rose 5.4% during mid-day trading on Monday . The stock traded as high as $2.75 and last traded at $2.74. Approximately 620,704 shares traded hands during trading, a decline of 36% from the average daily volume of 977,416 shares. The stock had previously closed at $2.60.

ATRenew Trading Up 4.6 %

The firm has a 50 day moving average price of $2.40 and a 200-day moving average price of $1.95. The firm has a market cap of $663.33 million, a price-to-earnings ratio of -22.75, a P/E/G ratio of 0.51 and a beta of -0.17.

ATRenew (NYSE:RERE) last announced its earnings results on Monday, May 20th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $505.68 million for the quarter, compared to analysts’ expectations of $493.00 million. ATRenew had a positive return on equity of 2.74% and a negative net margin of 1.44%. As a group, equities analysts expect that ATRenew Inc. will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ATRenew

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. IvyRock Asset Management HK Ltd purchased a new stake in shares of ATRenew during the 4th quarter worth about $67,000. Virtu Financial LLC acquired a new stake in shares of ATRenew during the 1st quarter valued at about $134,000. Renaissance Technologies LLC raised 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 purchasing an additional 115,853 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in ATRenew during the second quarter worth about $3,328,000. 19.29% of the stock is owned by institutional investors.

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.