ATRenew (NYSE:RERE) Trading Down 1.6% – Here’s What Happened

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares fell 1.6% during mid-day trading on Thursday . The company traded as low as $3.97 and last traded at $4.0250. 743,663 shares were traded during trading, a decline of 22% from the average daily volume of 948,616 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

A number of analysts have weighed in on RERE shares. Weiss Ratings lowered ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, ATRenew currently has an average rating of “Hold”.

ATRenew Trading Down 1.6%

The firm has a market capitalization of $883.09 million, a P/E ratio of 16.10 and a beta of 0.29. The stock has a 50-day simple moving average of $4.29 and a two-hundred day simple moving average of $5.00.

ATRenew (NYSE:RERE) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.01 million. ATRenew had a return on equity of 11.48% and a net margin of 1.90%. As a group, research analysts expect that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in ATRenew during the 4th quarter valued at about $23,190,000. Arrowstreet Capital Limited Partnership lifted its position in shares of ATRenew by 98.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock worth $13,571,000 after purchasing an additional 1,466,383 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of ATRenew by 60.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,857,684 shares of the company’s stock valued at $20,447,000 after purchasing an additional 1,450,764 shares in the last quarter. Fideuram Asset Management Ireland dac bought a new position in shares of ATRenew during the fourth quarter valued at approximately $4,764,000. Finally, Capitolis Liquid Global Markets LLC purchased a new position in ATRenew during the fourth quarter valued at approximately $3,903,000. 19.29% of the stock is currently owned by 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.