122,540 Shares in ATRenew Inc. Sponsored ADR $RERE Acquired by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. bought a new position in ATRenew Inc. Sponsored ADR (NYSE:RERE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 122,540 shares of the company’s stock, valued at approximately $406,000. ATRenew comprises approximately 0.4% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 26th biggest position. E Fund Management Hong Kong Co. Ltd. owned 0.05% of ATRenew at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in ATRenew by 27.4% in the first quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company’s stock worth $7,899,000 after acquiring an additional 579,334 shares during the period. Caxton Associates LLP bought a new position in ATRenew in the first quarter worth approximately $114,000. Eschler Asset Management LLP raised its position in ATRenew by 163.6% in the first quarter. Eschler Asset Management LLP now owns 226,700 shares of the company’s stock worth $666,000 after acquiring an additional 140,700 shares during the period. Cubist Systematic Strategies LLC raised its position in ATRenew by 15.9% in the first quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock worth $194,000 after acquiring an additional 9,094 shares during the period. Finally, Harber Asset Management LLC raised its position in ATRenew by 0.6% in the first quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company’s stock worth $3,688,000 after acquiring an additional 7,750 shares during the period. 19.29% of the stock is currently owned by institutional investors.

ATRenew Stock Performance

RERE opened at $4.25 on Thursday. ATRenew Inc. Sponsored ADR has a fifty-two week low of $2.00 and a fifty-two week high of $4.93. The firm’s fifty day moving average is $4.29 and its 200 day moving average is $3.34. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 35.42 and a beta of 0.24.

ATRenew declared that its board has authorized a share repurchase plan on Monday, June 30th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

RERE has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ATRenew in a research report on Wednesday. Wall Street Zen downgraded shares of ATRenew from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

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.