ATRenew (NYSE:RERE) Sees Strong Trading Volume – What’s Next?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares saw unusually-high trading volume on Monday . Approximately 1,235,276 shares traded hands during mid-day trading, an increase of 9% from the previous session’s volume of 1,130,083 shares.The stock last traded at $3.76 and had previously closed at $3.55.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

ATRenew Price Performance

The stock’s fifty day moving average price is $2.88 and its 200-day moving average price is $2.81. The firm has a market cap of $885.74 million, a price-to-earnings ratio of 51.91 and a beta of 0.20.

ATRenew (NYSE:RERE) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $641.26 million for the quarter, compared to analyst estimates of $4.62 billion. ATRenew had a net margin of 0.73% and a return on equity of 8.91%. As a group, equities research analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.

ATRenew declared that its Board of Directors has approved a stock buyback program on Monday, June 30th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of ATRenew

Several large investors have recently modified their holdings of RERE. Acadian Asset Management LLC boosted its holdings in ATRenew by 27.4% in the 1st quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company’s stock valued at $7,899,000 after purchasing an additional 579,334 shares during the period. Caxton Associates LLP bought a new stake in ATRenew in the 1st quarter valued at $114,000. Eschler Asset Management LLP boosted its holdings in ATRenew by 163.6% in the 1st quarter. Eschler Asset Management LLP now owns 226,700 shares of the company’s stock valued at $666,000 after purchasing an additional 140,700 shares during the period. Cubist Systematic Strategies LLC boosted 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 purchasing an additional 9,094 shares during the period. Finally, Harber Asset Management LLC boosted its holdings in ATRenew by 0.6% in the 1st quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company’s stock valued at $3,688,000 after purchasing an additional 7,750 shares during the period. 19.29% of the stock is owned by 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.