ATRenew (NYSE:RERE) Stock Price Up 11.7% – Time to Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) traded up 11.7% during mid-day trading on Thursday . The stock traded as high as $5.34 and last traded at $5.4830. 1,976,535 shares changed hands during trading, an increase of 26% from the average session volume of 1,564,933 shares. The stock had previously closed at $4.91.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RERE shares. Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a research note on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

ATRenew Price Performance

The firm has a market capitalization of $1.31 billion, a P/E ratio of 33.60 and a beta of 0.20. The firm has a 50-day moving average price of $4.18 and a two-hundred day moving average price of $3.79.

Hedge Funds Weigh In On ATRenew

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in ATRenew by 98.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock worth $13,571,000 after acquiring an additional 1,466,383 shares in the last quarter. Acadian Asset Management LLC grew its stake in ATRenew by 41.9% during the 2nd quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock worth $12,622,000 after buying an additional 1,127,933 shares during the last quarter. Citigroup Inc. increased its holdings in shares of ATRenew by 109,141.5% during the third quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock valued at $5,181,000 after acquiring an additional 1,125,249 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ATRenew by 45.6% in the first quarter. Invesco Ltd. now owns 2,760,925 shares of the company’s stock worth $8,117,000 after buying an additional 864,048 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in ATRenew during the 3rd quarter worth about $2,466,000. 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.