ATRenew (NYSE:RERE) Trading 4.7% Higher – Should You Buy?

ATRenew Inc. (NYSE:RERE) shares shot up 4.7% during mid-day trading on Monday . The stock traded as high as $2.78 and last traded at $2.78. 251,634 shares were traded during mid-day trading, a decline of 53% from the average session volume of 535,998 shares. The stock had previously closed at $2.65.

ATRenew Stock Performance

The company has a market cap of $694.05 million, a PE ratio of -56.91, a P/E/G ratio of 0.37 and a beta of 0.10. The stock’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.64.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd boosted its stake in shares of ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after purchasing an additional 649,214 shares during the last quarter. Harber Asset Management LLC boosted its position in ATRenew by 14.6% during the third 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 grew its stake in ATRenew by 342.2% in the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock worth $210,000 after acquiring an additional 58,413 shares during the period. Cubist Systematic Strategies LLC grew its stake in 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 acquiring an additional 11,011 shares during the period. Finally, Marshall Wace LLP raised its holdings in ATRenew by 231.8% in the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after acquiring an additional 134,151 shares during the last quarter. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.