ATRenew (NYSE:RERE) Shares Gap Up – Still a Buy?

ATRenew Inc. (NYSE:RERE)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.80, but opened at $2.96. ATRenew shares last traded at $3.10, with a volume of 417,554 shares trading hands.

ATRenew Stock Up 15.9 %

The company has a fifty day moving average price of $2.81 and a 200 day moving average price of $2.71. The stock has a market cap of $791.36 million, a PE ratio of -64.89, a P/E/G ratio of 0.41 and a beta of 0.10.

Institutional Trading of ATRenew

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd increased its stake in shares of ATRenew by 162.3% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after buying an additional 649,214 shares during the period. Harber Asset Management LLC grew its holdings 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 acquiring an additional 139,842 shares during the last quarter. Centiva Capital LP increased its position in shares of ATRenew by 342.2% in the third quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after acquiring an additional 58,413 shares during the period. SG Americas Securities LLC bought a new position in shares of ATRenew during the fourth quarter valued at about $137,000. Finally, Quadrature Capital Ltd grew its stake in shares of ATRenew by 67.8% in the third quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after purchasing an additional 28,569 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.