ATRenew (NYSE:RERE) Trading 8.9% Higher – Still a Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares traded up 8.9% during trading on Wednesday . The company traded as high as $6.27 and last traded at $6.1550. 1,176,277 shares were traded during trading, an increase of 2% from the average session volume of 1,152,163 shares. The stock had previously closed at $5.65.

Analyst Ratings Changes

RERE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ATRenew in a research note on Monday, December 29th. Wall Street Zen raised shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

ATRenew Price Performance

The business has a fifty day moving average of $5.69 and a 200 day moving average of $4.84. The stock has a market cap of $1.47 billion, a PE ratio of 37.69 and a beta of 0.19.

Institutional Trading of ATRenew

Several institutional investors have recently added to or reduced their stakes in RERE. China Universal Asset Management Co. Ltd. bought a new stake in shares of ATRenew in the 3rd quarter worth approximately $2,466,000. XTX Topco Ltd acquired a new stake in ATRenew in the second quarter worth $483,000. Acadian Asset Management LLC lifted its stake in ATRenew by 41.9% in the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock valued at $12,622,000 after buying an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of ATRenew by 4.0% during the second quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock valued at $10,444,000 after acquiring an additional 120,000 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of ATRenew during the third quarter worth about $903,000. 19.29% of the stock is 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.