ATRenew (NYSE:RERE) Shares Down 5.2% – What’s Next?

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) dropped 5.2% during mid-day trading on Friday . The stock traded as low as $3.86 and last traded at $3.8950. Approximately 332,662 shares changed hands during trading, a decline of 71% from the average daily volume of 1,164,747 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. Weiss Ratings cut shares of ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

ATRenew Stock Performance

The company’s fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $4.95. The company has a market capitalization of $848.40 million, a price-to-earnings ratio of 15.47 and a beta of 0.29.

ATRenew (NYSE:RERE) last released its earnings results on Friday, May 15th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.01 million. ATRenew had a return on equity of 11.48% and a net margin of 1.90%. Sell-side analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current year.

Hedge Funds Weigh In On ATRenew

A number of hedge funds and other institutional investors have recently bought and sold shares of RERE. Van ECK Associates Corp grew its position in ATRenew by 10.3% in the fourth quarter. Van ECK Associates Corp now owns 19,794 shares of the company’s stock worth $105,000 after buying an additional 1,855 shares during the last quarter. IvyRock Asset Management HK Ltd boosted its stake in shares of ATRenew by 11.1% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock worth $106,000 after acquiring an additional 2,000 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of ATRenew in the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of ATRenew by 10,014.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after purchasing an additional 6,409 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of ATRenew by 29.4% in the 4th quarter. Squarepoint Ops LLC now owns 38,701 shares of the company’s stock valued at $205,000 after purchasing an additional 8,785 shares during the period. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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. The company was formerly known as AiHuiShou International Co Ltd.