ATRenew (NYSE:RERE) Shares Gap Down – What’s Next?

ATRenew Inc. (NYSE:RERE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $3.44, but opened at $3.35. ATRenew shares last traded at $3.36, with a volume of 938,873 shares.

ATRenew Stock Performance

The stock has a market capitalization of $802.33 million, a P/E ratio of -65.79, a P/E/G ratio of 0.70 and a beta of -0.13. The business’s fifty day moving average price is $2.64 and its two-hundred day moving average price is $2.50.

Institutional Investors Weigh In On ATRenew

Large investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in ATRenew in the 3rd quarter valued at about $32,000. PFG Investments LLC purchased a new stake in shares of ATRenew in the 3rd quarter worth approximately $95,000. Cubist Systematic Strategies LLC lifted its position in shares of 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 purchasing an additional 11,011 shares during the period. Virtu Financial LLC purchased a new stake in shares of ATRenew in the 1st quarter worth approximately $134,000. Finally, WT Asset Management Ltd purchased a new stake in shares of ATRenew in the 3rd quarter worth approximately $159,000. 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.