ATRenew (NYSE:RERE) Shares Down 9.2% - Time to Sell?

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares traded down 9.2% on Wednesday . The company traded as low as $3.70 and last traded at $3.69. 1,690,582 shares were traded during trading, an increase of 54% from the average session volume of 1,095,537 shares. The stock had previously closed at $4.06.

Wall Street Analyst Weigh In

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

ATRenew Stock Down 2.9%

The firm has a market cap of $871.84 million, a price-to-earnings ratio of 51.07 and a beta of 0.20. The stock has a 50 day moving average of $2.86 and a 200 day moving average of $2.81.

ATRenew (NYSE:RERE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $641.26 million during the quarter, compared to analyst estimates of $4.62 billion. ATRenew had a net margin of 0.73% and a return on equity of 8.91%. As a group, analysts predict that ATRenew Inc. Sponsored ADR will post 0.09 EPS for the current fiscal year.

ATRenew declared that its Board of Directors has approved a stock buyback program on Monday, June 30th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd grew its holdings in shares of ATRenew by 33.4% during the fourth 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of ATRenew by 16.2% during the fourth 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 last quarter. Yiheng Capital Management L.P. grew its holdings in shares of ATRenew by 107.7% during the fourth 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 last quarter. Sei Investments Co. bought a new stake in shares of ATRenew during the fourth quarter worth about $201,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of ATRenew by 101.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company's stock worth $4,713,000 after purchasing an additional 822,998 shares during the last quarter. Institutional investors and hedge funds 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.