ATRenew (NYSE:RERE) Shares Up 7.5% – What’s Next?

ATRenew Inc. (NYSE:RERE) traded up 7.5% during trading on Monday . The stock traded as high as $2.61 and last traded at $2.67. 166,250 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,042,412 shares. The stock had previously closed at $2.48.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th.

ATRenew Stock Performance

The company has a market cap of $669.92 million, a P/E ratio of -54.93, a P/E/G ratio of 0.41 and a beta of 0.09. The business’s 50-day moving average price is $2.46 and its 200 day moving average price is $2.79.

ATRenew (NYSE:RERE) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. Equities research analysts forecast that ATRenew Inc. will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On ATRenew

Several hedge funds have recently added to or reduced their stakes in RERE. Harber Asset Management LLC lifted its stake in shares of ATRenew by 0.6% during the 1st quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company’s stock worth $3,688,000 after buying an additional 7,750 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in ATRenew by 16.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company’s stock valued at $162,000 after acquiring an additional 7,883 shares during the period. Cubist Systematic Strategies LLC raised its holdings in ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock valued at $194,000 after acquiring an additional 9,094 shares during the period. NewEdge Advisors LLC acquired a new stake in ATRenew during the fourth quarter worth approximately $29,000. Finally, Walleye Capital LLC boosted its holdings in shares of ATRenew by 2.5% during the first quarter. Walleye Capital LLC now owns 444,584 shares of the company’s stock worth $1,307,000 after acquiring an additional 10,725 shares during the period. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.