ATRenew (NYSE:RERE) Sets New 52-Week High - Should You Buy?

Key Points

• ATRenew's stock reached a new 52-week high of $4.49 after trading as high as $4.45, with a volume of over 3 million shares.
• The company reported earnings of $0.04 per share, missing analysts' expectations and generating revenue of $641.26 million for the quarter.
• ATRenew's board has initiated a stock buyback program, indicating management believes its shares are undervalued.

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $4.45 and last traded at $4.49, with a volume of 3040719 shares. The stock had previously closed at $3.99.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Sunday.

ATRenew Price Performance

The firm has a market capitalization of $1.08 billion, a PE ratio of 63.50 and a beta of 0.20. The stock's 50-day moving average price is $3.27 and its 200 day moving average price is $2.93.

ATRenew (NYSE:RERE - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $641.26 million for the quarter, compared to analysts' expectations of $4.62 billion. ATRenew had a net margin of 0.73% and a return on equity of 8.91%. Equities research analysts forecast 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 buyback program on Monday, June 30th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On ATRenew

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC acquired a new stake in shares of ATRenew during the fourth quarter worth $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of ATRenew during the first quarter worth $32,000. Harbour Capital Advisors LLC acquired a new position in ATRenew during the first quarter valued at $33,000. PFG Investments LLC acquired a new position in ATRenew during the first quarter valued at $40,000. Finally, Virtu Financial LLC acquired a new position in ATRenew during the first quarter valued at $48,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

ATRenew Company Profile

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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