Invesco Ltd. Has $8.12 Million Stock Holdings in ATRenew Inc. Sponsored ADR $RERE

Key Points

• Invesco Ltd. increased its holdings in ATRenew Inc. by 45.6% during the first quarter, owning approximately 2.76 million shares valued at about $8.12 million.
• ATRenew has seen its stock price decline 1.5%, currently trading at $4.48, with a market cap of $1.09 billion.
• Wall Street analysts upgraded ATRenew's stock rating from "buy" to "strong-buy," reflecting increased investor confidence.

Invesco Ltd. lifted its holdings in ATRenew Inc. Sponsored ADR (NYSE:RERE - Free Report) by 45.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,760,925 shares of the company's stock after buying an additional 864,048 shares during the quarter. Invesco Ltd. owned about 1.13% of ATRenew worth $8,117,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. 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. QRG Capital Management Inc. raised its holdings in shares of ATRenew by 77.2% in the first quarter. QRG Capital Management Inc. now owns 29,710 shares of the company's stock valued at $87,000 after buying an additional 12,946 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of ATRenew in the first quarter valued at about $32,000. Finally, Prescott Group Capital Management L.L.C. raised its holdings in shares of ATRenew by 31.3% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company's stock valued at $8,742,000 after buying an additional 724,415 shares during the last quarter. 19.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised ATRenew from a "buy" rating to a "strong-buy" rating in a report on Friday, August 22nd.

ATRenew Stock Performance

NYSE RERE traded down $0.07 during trading hours on Thursday, reaching $4.67. 1,604,304 shares of the company's stock were exchanged, compared to its average volume of 3,619,035. The company's 50-day moving average is $3.71 and its two-hundred day moving average is $3.07. ATRenew Inc. Sponsored ADR has a one year low of $2.00 and a one year high of $4.93. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 38.88 and a beta of 0.20.

ATRenew declared that its Board of Directors has authorized a stock repurchase program on Monday, June 30th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.