ATRenew (NYSE:RERE) Hits New 52-Week High – Time to Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.89 and last traded at $4.64, with a volume of 6186774 shares trading hands. The stock had previously closed at $4.40.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 10th.

ATRenew Price Performance

The stock’s 50 day moving average price is $3.53 and its two-hundred day moving average price is $3.02. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 38.79 and a beta of 0.20.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ATRenew had a return on equity of 9.12% and a net margin of 1.13%.The firm had revenue of $641.26 million during the quarter, compared to analyst estimates of $4.62 billion. As a group, equities research analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.

ATRenew announced that its Board of Directors has authorized a share buyback program on Monday, June 30th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of ATRenew

A number of institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in ATRenew during the fourth quarter worth $29,000. JTC Employer Solutions Trustee Ltd bought a new position in ATRenew during the first quarter worth $32,000. Harbour Capital Advisors LLC bought a new position in ATRenew during the first quarter worth $33,000. PFG Investments LLC bought a new position in ATRenew during the first quarter worth $40,000. Finally, Virtu Financial LLC bought a new position in ATRenew during the first quarter worth $48,000. 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.