ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares saw an uptick in trading volume on Tuesday . 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 Analysts Forecast Growth
Separately, Wall Street Zen cut shares of ATRenew from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.
Read Our Latest Stock Report on ATRenew
ATRenew Price Performance
The stock has a market capitalization of $849.89 million, a price-to-earnings ratio of 50.07 and a beta of 0.20. The firm's fifty day moving average is $3.05 and its 200-day moving average is $2.85.
ATRenew (NYSE:RERE - Get Free Report) last released 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 8.91% and a net margin of 0.73%. The firm had revenue of $641.26 million during the quarter, compared to analyst estimates of $4.62 billion. On average, sell-side analysts expect that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current year.
ATRenew announced that its board has authorized a share buyback program on Monday, June 30th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Institutional Trading of ATRenew
A number of large investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in ATRenew in the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in ATRenew during the first quarter valued at about $32,000. Harbour Capital Advisors LLC purchased a new stake in ATRenew during the first quarter valued at about $33,000. PFG Investments LLC purchased a new stake in ATRenew during the first quarter valued at about $40,000. Finally, Virtu Financial LLC purchased a new stake in ATRenew during the first quarter valued at about $48,000. Institutional investors and hedge funds own 19.29% of the company's stock.
About ATRenew
(
Get Free Report)
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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