ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) rose 4.8% during mid-day trading on Wednesday . The stock traded as high as $3.10 and last traded at $3.14. Approximately 560,222 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,018,710 shares. The stock had previously closed at $2.99.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered shares of ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st.
Get Our Latest Research Report on ATRenew
ATRenew Trading Down 2.0%
The firm's 50 day moving average is $2.61 and its two-hundred day moving average is $2.76. The firm has a market cap of $762.09 million, a P/E ratio of 44.64 and a beta of 0.09.
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 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 firm had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. Analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Yiheng Capital Management L.P. boosted its stake in ATRenew by 107.7% during the 4th quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company's stock worth $9,110,000 after acquiring an additional 1,639,859 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in ATRenew by 31.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company's stock valued at $8,742,000 after buying an additional 724,415 shares in the last quarter. Invesco Ltd. lifted its stake in ATRenew by 45.6% in the first quarter. Invesco Ltd. now owns 2,760,925 shares of the company's stock valued at $8,117,000 after buying an additional 864,048 shares in the last quarter. Acadian Asset Management LLC lifted its stake in ATRenew by 27.4% in the first quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock valued at $7,899,000 after buying an additional 579,334 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in ATRenew in the fourth quarter valued at approximately $6,623,000. Institutional investors own 19.29% of the company's stock.
About ATRenew
(
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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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