ATRenew (NYSE:RERE) Shares Down 4.7% - Should You Sell?

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) traded down 4.7% during trading on Thursday . The company traded as low as $3.01 and last traded at $3.04. 212,761 shares were traded during trading, a decline of 79% from the average session volume of 1,018,498 shares. The stock had previously closed at $3.19.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered ATRenew from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st.

ATRenew Trading Down 2.0%

The firm has a market capitalization of $762.09 million, a PE ratio of 44.64 and a beta of 0.09. The business's 50 day simple moving average is $2.59 and its two-hundred day simple moving average is $2.77.

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

Hedge Funds Weigh In On ATRenew

A number of institutional investors have recently modified their holdings of RERE. NewEdge Advisors LLC acquired a new stake in shares of ATRenew in the fourth quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in ATRenew in the 1st quarter valued at about $32,000. Harbour Capital Advisors LLC acquired a new position in ATRenew during the first quarter worth $33,000. PFG Investments LLC purchased a new stake in ATRenew during the first quarter worth about $40,000. Finally, QRG Capital Management Inc. acquired a new stake in ATRenew during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 19.29% of the company's stock.

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.