ATRenew (NYSE:RERE) Stock Price Up 8.2% - What's Next?

Key Points

• ATRenew Inc. shares rose 8.2% during trading, closing at $3.90, with a trading volume increase of 126% compared to the average daily volume.
• After previously holding a "strong-buy" rating, Wall Street Zen downgraded ATRenew to a "buy" rating in a recent report.
• ATRenew reported quarterly earnings that missed estimates, with earnings per share of $0.04 against an expected $0.05, and revenue significantly lower than projections at $641.26 million.

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) rose 8.2% during trading on Monday . The stock traded as high as $3.91 and last traded at $3.90. Approximately 2,964,563 shares were traded during mid-day trading, an increase of 126% from the average daily volume of 1,312,208 shares. The stock had previously closed at $3.60.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of ATRenew from a "strong-buy" rating to a "buy" rating in a research report on Sunday.

ATRenew Stock Performance

The business's 50 day moving average price is $3.21 and its two-hundred day moving average price is $2.92. The company has a market capitalization of $952.32 million, a price-to-earnings ratio of 55.79 and a beta of 0.20.

ATRenew (NYSE:RERE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 earnings per share 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 return on equity of 8.91% and a net margin of 0.73%. On average, sell-side analysts expect that ATRenew Inc. Sponsored ADR will post 0.09 earnings per share for the current year.

ATRenew announced that its Board of Directors has authorized a share repurchase program on Monday, June 30th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Institutional Trading of ATRenew

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PFG Investments LLC acquired a new stake in ATRenew during the first quarter valued at approximately $40,000. Two Sigma Investments LP lifted its position in shares of ATRenew by 38.2% in the 4th quarter. Two Sigma Investments LP now owns 108,516 shares of the company's stock valued at $313,000 after acquiring an additional 30,000 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of ATRenew in the 1st quarter valued at approximately $33,000. Bank of America Corp DE lifted its position in shares of ATRenew by 46.3% in the 4th quarter. Bank of America Corp DE now owns 578,457 shares of the company's stock valued at $1,666,000 after acquiring an additional 183,201 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of ATRenew in the 4th quarter valued at approximately $50,000. 19.29% of the stock is 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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