ATRenew (NYSE:RERE) Shares Up 7.2% – Should You Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s share price rose 7.2% during trading on Wednesday . The stock traded as high as $5.59 and last traded at $5.5950. Approximately 544,951 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,570,587 shares. The stock had previously closed at $5.22.

Analysts Set New Price Targets

RERE has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of ATRenew in a report on Monday, December 8th. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ATRenew currently has a consensus rating of “Hold”.

ATRenew Trading Down 1.2%

The company has a market capitalization of $1.31 billion, a P/E ratio of 33.56 and a beta of 0.20. The company’s fifty day moving average is $4.37 and its 200 day moving average is $3.99.

Institutional Trading of ATRenew

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of ATRenew in the second quarter valued at approximately $406,000. Eschler Asset Management LLP increased its holdings in ATRenew by 163.6% during the 1st quarter. Eschler Asset Management LLP now owns 226,700 shares of the company’s stock worth $666,000 after acquiring an additional 140,700 shares during the period. Acadian Asset Management LLC lifted its stake in ATRenew by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company’s stock worth $7,899,000 after purchasing an additional 579,334 shares in the last quarter. XTX Topco Ltd bought a new position in ATRenew in the 2nd quarter valued at $483,000. Finally, Invesco Ltd. grew its position in shares of ATRenew by 45.6% during the 1st quarter. Invesco Ltd. now owns 2,760,925 shares of the company’s stock valued at $8,117,000 after purchasing an additional 864,048 shares in the last quarter. 19.29% of the stock is currently 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.