ATRenew (NYSE:RERE) Sets New 12-Month High – Still a Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $6.15 and last traded at $6.0950, with a volume of 585767 shares traded. The stock had previously closed at $5.89.

Analysts Set New Price Targets

RERE has been the topic of a number of research reports. Wall Street Zen cut ATRenew from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

ATRenew Trading Down 2.5%

The firm has a market capitalization of $1.55 billion, a P/E ratio of 37.47 and a beta of 0.19. The company has a 50-day moving average of $4.95 and a 200-day moving average of $4.35.

Hedge Funds Weigh In On ATRenew

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in ATRenew by 41.9% during the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock worth $12,622,000 after purchasing an additional 1,127,933 shares during the period. Prescott Group Capital Management L.L.C. grew its holdings in ATRenew by 4.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock worth $10,444,000 after acquiring an additional 120,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in ATRenew by 98.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock valued at $13,571,000 after acquiring an additional 1,466,383 shares in the last quarter. Citigroup Inc. lifted its holdings in ATRenew by 109,141.5% in the third quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock worth $5,181,000 after buying an additional 1,125,249 shares during the period. Finally, Bank of America Corp DE grew its stake in ATRenew by 69.6% in the third quarter. Bank of America Corp DE now owns 749,676 shares of the company’s stock worth $3,449,000 after purchasing an additional 307,679 shares during the period. 19.29% of the stock is currently owned by institutional investors.

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. The company was formerly known as AiHuiShou International Co Ltd.