ATRenew Inc. Sponsored ADR (NYSE:RERE) Short Interest Update

Key Points

• ATRenew Inc. saw a significant increase in short interest of 255.0% in July, with a total of 4,650,000 shares shorted by the end of the month.
• Wall Street analysts have downgraded ATRenew's rating from "strong-buy" to "buy" as of August 10th.
• Institutional investors have notably increased their stakes in ATRenew during the second quarter, with some firms raising their holdings by over 300%.

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 4,650,000 shares, agrowthof255.0% from the July 15th total of 1,310,000 shares. Currently,2.1% of the company's shares are short sold. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is presently 2.5 days. Currently,2.1% of the company's shares are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 10th.

Institutional Investors Weigh In On ATRenew

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in ATRenew by 8.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 330,297 shares of the company's stock valued at $1,093,000 after purchasing an additional 24,674 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of ATRenew by 323.0% in the 2nd quarter. Jane Street Group LLC now owns 212,183 shares of the company's stock valued at $702,000 after acquiring an additional 162,021 shares during the period. Sei Investments Co. increased its holdings in shares of ATRenew by 121.0% in the 2nd quarter. Sei Investments Co. now owns 154,591 shares of the company's stock valued at $512,000 after acquiring an additional 84,644 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of ATRenew by 66.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 267,728 shares of the company's stock valued at $886,000 after acquiring an additional 107,267 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of ATRenew by 14.2% in the 2nd quarter. Marshall Wace LLP now owns 561,536 shares of the company's stock valued at $1,859,000 after acquiring an additional 69,801 shares during the period. 19.29% of the stock is owned by institutional investors.

ATRenew Stock Performance

RERE stock remained flat at $4.24 during midday trading on Friday. The company's stock had a trading volume of 3,447,452 shares, compared to its average volume of 1,432,162. ATRenew has a 12-month low of $2.00 and a 12-month high of $4.81. The company has a market capitalization of $1.03 billion, a PE ratio of 60.57 and a beta of 0.20. The firm has a 50 day moving average price of $3.34 and a 200 day moving average price of $2.96.

ATRenew (NYSE:RERE - Get Free Report) last announced 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). ATRenew had a net margin of 0.73% and a return on equity of 8.91%. The business had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. Equities research analysts predict that ATRenew will post 0.09 EPS for the current year.

ATRenew announced that its board has initiated a stock repurchase plan on Monday, June 30th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.

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