ATRenew (NYSE:RERE) Trading Down 3.9% – Time to Sell?

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s stock price dropped 3.9% during trading on Tuesday . The company traded as low as $3.95 and last traded at $3.93. 196,698 shares changed hands during trading, a decline of 83% from the average daily volume of 1,151,554 shares. The stock had previously closed at $4.09.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded ATRenew from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 25th. UBS Group initiated coverage on ATRenew in a research report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 price objective for the company. CICC Research began coverage on ATRenew in a research note on Thursday, August 20th. They set an “outperform” rating for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ATRenew in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

ATRenew Trading Up 1.5%

The stock has a market cap of $877.60 million, a price-to-earnings ratio of 13.79 and a beta of 0.31. The firm’s 50-day moving average is $4.10 and its two-hundred day moving average is $4.64.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Thursday, August 20th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. ATRenew had a return on equity of 12.32% and a net margin of 2.01%.The company had revenue of $972.82 million for the quarter, compared to analysts’ expectations of $930.34 million. On average, analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current year.

Institutional Trading of ATRenew

Several large investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of ATRenew by 10.3% during 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 in the last quarter. IvyRock Asset Management HK Ltd raised its position in shares of ATRenew by 11.1% in the fourth quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock valued at $106,000 after buying an additional 2,000 shares during the last quarter. Wells Fargo & Company MN purchased a new position in shares of ATRenew in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of ATRenew by 10,014.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock worth $34,000 after buying an additional 6,409 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in ATRenew by 29.4% during the fourth quarter. Squarepoint Ops LLC now owns 38,701 shares of the company’s stock worth $205,000 after acquiring an additional 8,785 shares during the last quarter. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

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.