ATRenew (NYSE:RERE) Shares Gap Down to $2.37

ATRenew Inc. (NYSE:RERE) shares gapped down before the market opened on Monday . The stock had previously closed at $2.37, but opened at $2.30. ATRenew shares last traded at $2.40, with a volume of 39,745 shares changing hands.

ATRenew Price Performance

The stock has a market capitalization of $565.78 million, a PE ratio of -19.75, a price-to-earnings-growth ratio of 0.48 and a beta of -0.17. The business’s fifty day moving average price is $2.34 and its two-hundred day moving average price is $1.77.

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

Institutional Investors Weigh In On ATRenew

Hedge funds have recently added to or reduced their stakes in the business. Lansdowne Partners UK LLP purchased a new stake in ATRenew in the third quarter valued at $1,174,000. IvyRock Asset Management HK Ltd purchased a new stake in ATRenew in the fourth quarter valued at $67,000. Finally, Virtu Financial LLC purchased a new stake in ATRenew in the first quarter valued at $134,000. 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.