ATRenew Inc. (NYSE:RERE - Get Free Report) shares were up 7.5% during trading on Monday . The stock traded as high as $2.61 and last traded at $2.67. Approximately 166,250 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,042,412 shares. The stock had previously closed at $2.48.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of ATRenew from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.
Read Our Latest Stock Analysis on RERE
ATRenew Stock Up 4.1%
The business's 50-day moving average price is $2.47 and its 200-day moving average price is $2.79. The firm has a market capitalization of $675.53 million, a PE ratio of -55.39, a price-to-earnings-growth ratio of 0.41 and a beta of 0.09.
ATRenew (NYSE:RERE - Get Free Report) last posted 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). The company had revenue of $641.26 million during the quarter, compared to analysts' expectations of $4.62 billion. ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. On average, analysts anticipate that ATRenew Inc. will post 0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On ATRenew
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in shares of ATRenew in the fourth quarter worth $29,000. JTC Employer Solutions Trustee Ltd bought a new position in shares of ATRenew in the first quarter valued at about $32,000. Harbour Capital Advisors LLC bought a new position in shares of ATRenew in the first quarter valued at about $33,000. PFG Investments LLC bought a new position in shares of ATRenew in the first quarter valued at about $40,000. Finally, Virtu Financial LLC bought a new stake in ATRenew during the 1st quarter worth about $48,000. 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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