ATRenew (NYSE:RERE) Trading Down 4.7% - Here's Why

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares fell 4.7% during trading on Thursday . The stock 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.

Analysts Set New Price Targets

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

ATRenew Trading Up 11.3%

The firm has a 50 day simple moving average of $2.63 and a 200 day simple moving average of $2.76. The firm has a market capitalization of $849.89 million, a PE ratio of 19.39 and a beta of 0.09.

ATRenew (NYSE:RERE - Get Free Report) last issued its earnings results on Tuesday, May 20th. The company reported $0.04 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%. Research analysts forecast 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 and hedge funds have recently modified their holdings of RERE. QRG Capital Management Inc. purchased a new position in shares of ATRenew in the 4th quarter worth $48,000. Prescott Group Capital Management L.L.C. raised its holdings in ATRenew by 31.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company's stock worth $8,742,000 after purchasing an additional 724,415 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in ATRenew by 33.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,399,214 shares of the company's stock worth $4,016,000 after purchasing an additional 350,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in ATRenew by 16.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company's stock worth $162,000 after purchasing an additional 7,883 shares during the period. Finally, Yiheng Capital Management L.P. raised its holdings in ATRenew by 107.7% in the 4th quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company's stock worth $9,110,000 after purchasing an additional 1,639,859 shares during the period. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

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.