ATRenew (NYSE:RERE) Sees Large Volume Increase - What's Next?

Key Points

• ATRenew Inc. experienced a significant increase in trading volume, with approximately 2,027,078 shares traded, a 41% rise from the previous session.
• Wall Street analysts have downgraded ATRenew's rating from "strong-buy" to "buy", reflecting ongoing concerns about the company's performance.
• The company reported $0.04 EPS for the most recent quarter, missing the expected estimate of $0.05, with revenue significantly below consensus expectations at $641.26 million.

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 2,027,078 shares traded hands during mid-day trading, an increase of 41% from the previous session's volume of 1,442,510 shares.The stock last traded at $4.67 and had previously closed at $4.40.

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 Sunday, August 10th.

ATRenew Stock Performance

The stock has a market capitalization of $1.15 billion, a P/E ratio of 67.39 and a beta of 0.20. The firm has a 50-day moving average price of $3.41 and a 200 day moving average price of $2.98.

ATRenew (NYSE:RERE - Get Free Report) last posted 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 company had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. On average, equities analysts anticipate that ATRenew Inc. Sponsored ADR will post 0.09 earnings per share for the current fiscal year.

ATRenew declared that its board has initiated a stock repurchase program on Monday, June 30th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On ATRenew

A number of large investors have recently made changes to their positions in RERE. NewEdge Advisors LLC bought a new stake in shares of ATRenew in the 4th quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of ATRenew in the 1st quarter worth approximately $32,000. Harbour Capital Advisors LLC bought a new stake in shares of ATRenew in the 1st quarter worth approximately $33,000. PFG Investments LLC bought a new stake in shares of ATRenew in the 1st quarter worth approximately $40,000. Finally, Virtu Financial LLC bought a new stake in shares of ATRenew in the 1st quarter worth approximately $48,000. 19.29% of the stock is currently owned by institutional investors.

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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