ATRenew (NYSE:RERE) Sees Strong Trading Volume - What's Next?

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) saw strong trading volume on Monday . 1,235,276 shares were traded during trading, an increase of 9% from the previous session's volume of 1,130,083 shares.The stock last traded at $3.76 and had previously closed at $3.55.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of ATRenew from a "strong-buy" rating to a "buy" rating in a report on Saturday.

ATRenew Trading Up 2.3%

The stock has a market capitalization of $885.74 million, a PE ratio of 51.91 and a beta of 0.20. The company's 50 day simple moving average is $2.88 and its 200 day simple moving average is $2.81.

ATRenew (NYSE:RERE - Get Free Report) last posted its earnings results on Tuesday, May 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $4.62 billion. As a group, analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current year.

ATRenew declared that its Board of Directors has approved a share repurchase 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. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On ATRenew

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in shares of ATRenew during the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd bought a new position in ATRenew in the 1st quarter worth about $32,000. Harbour Capital Advisors LLC bought a new position in ATRenew in the 1st quarter worth about $33,000. PFG Investments LLC bought a new position in ATRenew in the 1st quarter worth about $40,000. Finally, Virtu Financial LLC bought a new position in ATRenew in the 1st quarter worth about $48,000. Institutional investors own 19.29% of the company's stock.

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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