ATRenew (NYSE:RERE) Trading 1.8% Higher – Here’s What Happened

Shares of ATRenew Inc. (NYSE:RERE) were up 1.8% during mid-day trading on Friday . The company traded as high as $2.87 and last traded at $2.86. Approximately 163,656 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,063,802 shares. The stock had previously closed at $2.81.

ATRenew Stock Up 8.2 %

The stock has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $2.58. The firm has a market capitalization of $741.37 million, a P/E ratio of -60.79, a PEG ratio of 0.60 and a beta of 0.07.

Institutional Trading of ATRenew

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in shares of ATRenew during the second quarter valued at approximately $3,328,000. Harvest Fund Management Co. Ltd increased its holdings in ATRenew by 162.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock valued at $2,906,000 after acquiring an additional 649,214 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in ATRenew in the 2nd quarter worth $1,396,000. Harber Asset Management LLC lifted its stake in ATRenew by 14.6% in the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after purchasing an additional 139,842 shares in the last quarter. Finally, Marshall Wace LLP boosted 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. 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.