ATRenew (NYSE:RERE) Trading Down 3.4%

ATRenew Inc. (NYSE:RERE)’s share price fell 3.4% on Wednesday . The stock traded as low as $2.27 and last traded at $2.28. 277,847 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 969,905 shares. The stock had previously closed at $2.36.

ATRenew Trading Down 3.4 %

The firm has a market capitalization of $556.02 million, a PE ratio of -19.67, a PEG ratio of 0.54 and a beta of -0.18. The stock has a 50 day simple moving average of $2.45 and a 200 day simple moving average of $2.20.

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

Institutional Investors Weigh In On ATRenew

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in shares of ATRenew in the 2nd quarter worth about $3,328,000. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in shares of ATRenew during the second quarter valued at about $1,396,000. Marshall Wace LLP lifted its holdings in shares of ATRenew by 231.8% during the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after purchasing an additional 134,151 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in ATRenew by 26.0% in the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after acquiring an additional 115,853 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in ATRenew during the 1st quarter worth approximately $134,000. 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.