Bank of America Corp DE Buys 183,201 Shares of ATRenew Inc. (NYSE:RERE)

Bank of America Corp DE lifted its stake in ATRenew Inc. (NYSE:RERE - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 578,457 shares of the company's stock after buying an additional 183,201 shares during the period. Bank of America Corp DE owned about 0.24% of ATRenew worth $1,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of 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 buying an additional 7,883 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of ATRenew in the 4th quarter worth approximately $29,000. QRG Capital Management Inc. acquired a new position in shares of ATRenew in the 4th quarter worth approximately $48,000. Russell Investments Group Ltd. acquired a new position in shares of ATRenew in the 4th quarter worth approximately $82,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ATRenew in the 4th quarter worth approximately $101,000. 19.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised ATRenew from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th.

ATRenew Trading Up 0.6%

NYSE RERE traded up $0.02 during trading hours on Friday, reaching $2.49. 409,096 shares of the company's stock were exchanged, compared to its average volume of 1,045,378. The stock has a market cap of $606.02 million, a PE ratio of -49.69, a price-to-earnings-growth ratio of 0.41 and a beta of 0.09. ATRenew Inc. has a one year low of $2.00 and a one year high of $3.70. The firm has a fifty day moving average of $2.47 and a 200-day moving average of $2.79.

ATRenew (NYSE:RERE - Get Free Report) last released 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 business had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. As a group, research analysts forecast that ATRenew Inc. will post 0.09 EPS for the current year.

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.