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

Shares of ATRenew Inc. (NYSE:RERE) gapped down prior to trading on Thursday . The stock had previously closed at $2.88, but opened at $2.82. ATRenew shares last traded at $2.64, with a volume of 703,919 shares changing hands.

ATRenew Stock Performance

The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $2.57. The stock has a market cap of $663.33 million, a price-to-earnings ratio of -54.39, a P/E/G ratio of 0.60 and a beta of 0.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC bought a new stake in shares of ATRenew during the third quarter worth $32,000. PFG Investments LLC acquired a new stake in shares of ATRenew during the 3rd quarter valued at $95,000. Cubist Systematic Strategies LLC grew its position in ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after acquiring an additional 11,011 shares during the last quarter. WT Asset Management Ltd bought a new stake in ATRenew during the 3rd quarter worth $159,000. Finally, Quadrature Capital Ltd increased its holdings in ATRenew by 67.8% in the 3rd quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after purchasing an additional 28,569 shares in 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.