ATRenew (NYSE:RERE) Shares Gap Down – Time to Sell?

ATRenew Inc. (NYSE:RERE)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $2.88, but opened at $2.82. ATRenew shares last traded at $2.64, with a volume of 703,919 shares traded.

ATRenew Trading Up 8.2 %

The company’s 50 day simple moving average is $2.80 and its 200-day simple moving average is $2.58. The firm has a market cap of $741.37 million, a P/E ratio of -60.79, a PEG ratio of 0.60 and a beta of 0.07.

Institutional Investors Weigh In On ATRenew

Large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC bought a new position in shares of ATRenew during the 3rd quarter valued at $32,000. PFG Investments LLC purchased a new stake in ATRenew during the third quarter valued at $95,000. Cubist Systematic Strategies LLC lifted its holdings in ATRenew by 30.3% in the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock valued at $112,000 after acquiring an additional 11,011 shares during the period. WT Asset Management Ltd bought a new position in ATRenew in the third quarter valued at about $159,000. Finally, Quadrature Capital Ltd boosted its position in ATRenew by 67.8% in the third quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after purchasing an additional 28,569 shares during the last quarter. Institutional investors own 19.29% of the company’s stock.

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.