ATRenew (NYSE:RERE) Trading Down 4.7% – What’s Next?

Shares of ATRenew Inc. (NYSE:RERE) dropped 4.7% during mid-day trading on Wednesday . The company traded as low as $3.31 and last traded at $3.32. Approximately 211,907 shares changed hands during trading, a decline of 82% from the average daily volume of 1,183,923 shares. The stock had previously closed at $3.48.

ATRenew Stock Performance

The company has a market capitalization of $803.56 million, a price-to-earnings ratio of -65.89, a P/E/G ratio of 0.41 and a beta of 0.08. The company has a 50 day moving average price of $2.87 and a 200 day moving average price of $2.74.

Institutional Investors Weigh In On ATRenew

Hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. lifted its holdings in shares of ATRenew by 31.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after purchasing an additional 724,415 shares in the last quarter. Squarepoint Ops LLC acquired a new position in ATRenew during the fourth quarter worth $50,000. Two Sigma Investments LP lifted its stake in shares of ATRenew by 38.2% in the fourth quarter. Two Sigma Investments LP now owns 108,516 shares of the company’s stock valued at $313,000 after buying an additional 30,000 shares in the last quarter. Man Group plc acquired a new position in shares of ATRenew during the fourth quarter valued at about $325,000. Finally, Millennium Management LLC increased its position in shares of ATRenew by 252.3% during the fourth quarter. Millennium Management LLC now owns 659,508 shares of the company’s stock worth $1,899,000 after acquiring an additional 472,322 shares in the last quarter. Institutional investors and hedge funds 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.