ATRenew (NYSE:RERE) Shares Gap Up – Here’s What Happened

ATRenew Inc. (NYSE:RERE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.18, but opened at $3.35. ATRenew shares last traded at $3.48, with a volume of 1,123,764 shares changing hands.

ATRenew Stock Down 4.4 %

The stock has a fifty day moving average of $2.86 and a two-hundred day moving average of $2.74. The stock has a market cap of $811.36 million, a price-to-earnings ratio of -66.53, a PEG ratio of 0.41 and a beta of 0.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yiheng Capital Management L.P. grew its holdings in ATRenew by 107.7% during the 4th quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company’s stock valued at $9,110,000 after purchasing an additional 1,639,859 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in shares of ATRenew by 31.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after acquiring an additional 724,415 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in ATRenew in the fourth quarter valued at about $6,623,000. Invesco Ltd. increased its holdings in ATRenew by 1,718.6% during the 4th quarter. Invesco Ltd. now owns 1,896,877 shares of the company’s stock worth $5,463,000 after purchasing an additional 1,792,572 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of ATRenew by 101.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company’s stock valued at $4,713,000 after purchasing an additional 822,998 shares in the last quarter. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.