ATRenew (NYSE:RERE) Trading Down 6.4% – Here’s Why

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) dropped 6.4% on Thursday . The company traded as low as $4.35 and last traded at $4.3790. Approximately 161,446 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,329,373 shares. The stock had previously closed at $4.68.

Analyst Upgrades and Downgrades

RERE has been the subject of a number of research reports. Wall Street Zen raised ATRenew from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

ATRenew Stock Performance

The firm has a market cap of $972.25 million, a PE ratio of 22.13 and a beta of 0.29. The stock has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $5.00.

ATRenew (NYSE:RERE) last issued its earnings results on Saturday, February 14th. The company reported $0.12 EPS for the quarter. The firm had revenue of $893.92 million for the quarter. ATRenew had a return on equity of 9.87% and a net margin of 1.60%. Equities research analysts forecast that ATRenew Inc. Sponsored ADR will post 0.09 earnings per share for the current year.

ATRenew Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, April 24th. Stockholders of record on Monday, April 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, April 6th. ATRenew’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Trading of ATRenew

A number of hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in ATRenew in the fourth quarter valued at $67,000. XTX Topco Ltd boosted its stake in shares of ATRenew by 1,103.4% during the 4th quarter. XTX Topco Ltd now owns 159,983 shares of the company’s stock worth $848,000 after acquiring an additional 146,689 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of ATRenew during the 4th quarter valued at about $23,190,000. Engineers Gate Manager LP increased its stake in shares of ATRenew by 125.7% in the 4th quarter. Engineers Gate Manager LP now owns 48,445 shares of the company’s stock valued at $257,000 after purchasing an additional 26,978 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in shares of ATRenew in the 4th quarter valued at about $1,429,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

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. The company was formerly known as AiHuiShou International Co Ltd.