ATRenew (NYSE:RERE) Sees Strong Trading Volume

ATRenew Inc. (NYSE:RERE) saw unusually-strong trading volume on Friday . Approximately 660,286 shares were traded during mid-day trading, a decline of 34% from the previous session’s volume of 995,641 shares.The stock last traded at $2.54 and had previously closed at $2.48.

ATRenew Price Performance

The stock has a market cap of $616.99 million, a PE ratio of -21.08, a P/E/G ratio of 0.50 and a beta of -0.18. The firm’s 50 day moving average price is $2.45 and its two-hundred day moving average price is $2.26.

ATRenew (NYSE:RERE) last released its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $519.69 million during the quarter, compared to analysts’ expectations of $514.00 million. ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. Analysts anticipate that ATRenew Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of ATRenew

A number of institutional investors have recently added to or reduced their stakes in RERE. Acadian Asset Management LLC bought a new position in shares of ATRenew in the second quarter worth $3,328,000. Virtu Financial LLC purchased a new position in ATRenew during the first quarter worth about $134,000. Cubist Systematic Strategies LLC increased its stake in ATRenew by 30.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after acquiring an additional 11,011 shares during the last quarter. Marshall Wace LLP increased its stake in ATRenew by 231.8% in the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after acquiring an additional 134,151 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of ATRenew by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after acquiring an additional 115,853 shares in the last quarter. Hedge funds and other institutional investors own 19.29% of the company’s stock.

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.