ATRenew (NYSE:RERE) Shares Gap Up to $2.22

Shares of ATRenew Inc. (NYSE:RERE) gapped up before the market opened on Thursday . The stock had previously closed at $2.22, but opened at $2.32. ATRenew shares last traded at $2.25, with a volume of 165,149 shares trading hands.

ATRenew Stock Performance

The company’s 50-day moving average is $2.34 and its 200 day moving average is $1.77.

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

Hedge Funds Weigh In On ATRenew

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in ATRenew during the 1st quarter valued at about $134,000. IvyRock Asset Management HK Ltd bought a new position in ATRenew during the 4th quarter valued at about $67,000. Finally, Lansdowne Partners UK LLP bought a new position in ATRenew during the 3rd quarter valued at about $1,174,000. 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.