ATRenew (NYSE:RERE) Shares Down 4% – Should You Sell?

ATRenew Inc. (NYSE:RERE) dropped 4% on Thursday . The stock traded as low as $3.19 and last traded at $3.23. Approximately 391,132 shares traded hands during trading, a decline of 65% from the average daily volume of 1,108,973 shares. The stock had previously closed at $3.36.

ATRenew Stock Down 2.4 %

The company has a market capitalization of $754.78 million, a P/E ratio of -61.89, a price-to-earnings-growth ratio of 0.41 and a beta of 0.08. The company has a 50-day moving average of $2.95 and a two-hundred day moving average of $2.79.

Institutional Investors Weigh In On ATRenew

Several hedge funds have recently made changes to their positions in RERE. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of ATRenew by 16.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company’s stock worth $162,000 after acquiring an additional 7,883 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of ATRenew during the fourth quarter valued at $29,000. Walleye Capital LLC bought a new position in ATRenew in the third quarter valued at about $32,000. Cubist Systematic Strategies LLC lifted its holdings in ATRenew by 40.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,025 shares of the company’s stock valued at $164,000 after acquiring an additional 16,385 shares during the period. Finally, QRG Capital Management Inc. bought a new position in ATRenew in the fourth quarter valued at about $48,000. 19.29% of the stock is currently owned by institutional investors.

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.