ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 2,103,306 shares were traded during mid-day trading, an increase of 74% from the previous session's volume of 1,210,770 shares.The stock last traded at $3.60 and had previously closed at $3.68.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th.
View Our Latest Report on RERE
ATRenew Stock Up 1.0%
The company has a market cap of $830.38 million, a P/E ratio of 48.64 and a beta of 0.20. The business has a 50-day moving average price of $3.07 and a two-hundred day moving average price of $2.86.
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 the consensus estimate of $0.05 by ($0.01). ATRenew had a return on equity of 8.91% and a net margin of 0.73%. The business had revenue of $641.26 million during the quarter, compared to the consensus estimate of $4.62 billion. As a group, sell-side analysts expect 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 repurchase plan on Monday, June 30th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of ATRenew by 16.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company's stock worth $162,000 after purchasing an additional 7,883 shares during the period. Sei Investments Co. bought a new position in shares of ATRenew in the 4th quarter valued at $201,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ATRenew by 101.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company's stock valued at $4,713,000 after acquiring an additional 822,998 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in ATRenew during the 4th quarter worth about $82,000. Finally, Invesco Ltd. lifted its holdings in ATRenew by 1,718.6% during the 4th quarter. Invesco Ltd. now owns 1,896,877 shares of the company's stock worth $5,463,000 after buying an additional 1,792,572 shares during the period. 19.29% of the stock is owned by institutional investors and hedge funds.
About ATRenew
(
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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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