ATRenew (NYSE:RERE) Sees Unusually-High Trading Volume - Here's Why

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,314,634 shares changed hands during mid-day trading, an increase of 26% from the previous session's volume of 1,040,870 shares.The stock last traded at $3.70 and had previously closed at $3.48.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of ATRenew from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th.

ATRenew Stock Performance

The firm's fifty day simple moving average is $2.75 and its 200 day simple moving average is $2.78. The firm has a market cap of $949.87 million, a P/E ratio of 55.43 and a beta of 0.20.

ATRenew (NYSE:RERE - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 EPS 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 company had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. On average, equities research analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 earnings per share for the current year.

ATRenew declared that its board 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 reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harber Asset Management LLC raised its position in shares of ATRenew by 0.6% during the 1st quarter. Harber Asset Management LLC now owns 1,254,530 shares of the company's stock valued at $3,688,000 after buying an additional 7,750 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of ATRenew by 16.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company's stock valued at $162,000 after buying an additional 7,883 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of ATRenew by 15.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company's stock valued at $194,000 after buying an additional 9,094 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of ATRenew during the 4th quarter valued at about $29,000. Finally, Walleye Capital LLC raised its position in shares of ATRenew by 2.5% during the 1st quarter. Walleye Capital LLC now owns 444,584 shares of the company's stock valued at $1,307,000 after buying an additional 10,725 shares in the last quarter. 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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