Man Group plc purchased a new stake in shares of ATRenew Inc. (NYSE:RERE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 112,900 shares of the company's stock, valued at approximately $325,000.
Other hedge funds have also bought and sold shares of the company. Millennium Management LLC lifted its position in shares of ATRenew by 252.3% in the fourth quarter. Millennium Management LLC now owns 659,508 shares of the company's stock valued at $1,899,000 after acquiring an additional 472,322 shares in the last quarter. Eschler Asset Management LLP purchased a new stake in shares of ATRenew in the fourth quarter worth about $248,000. Cubist Systematic Strategies LLC lifted its position in shares of ATRenew by 40.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 57,025 shares of the company's stock worth $164,000 after buying an additional 16,385 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of ATRenew in the fourth quarter worth about $473,000. Finally, Bank of America Corp DE lifted its position in shares of ATRenew by 46.3% in the fourth quarter. Bank of America Corp DE now owns 578,457 shares of the company's stock worth $1,666,000 after buying an additional 183,201 shares in the last quarter. Institutional investors own 19.29% of the company's stock.
ATRenew Stock Performance
RERE stock traded down $0.06 during midday trading on Friday, reaching $2.57. 463,496 shares of the company traded hands, compared to its average volume of 1,054,315. The business has a 50 day moving average of $2.53 and a 200-day moving average of $2.80. ATRenew Inc. has a 52-week low of $2.00 and a 52-week high of $3.70. The firm has a market capitalization of $626.75 million, a price-to-earnings ratio of -51.39, a P/E/G ratio of 0.41 and a beta of 0.06.
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 the consensus estimate of $0.05 by ($0.01). ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. The business had revenue of $641.26 million during the quarter, compared to analysts' expectations of $4.62 billion. Research analysts anticipate that ATRenew Inc. will post 0.09 earnings per share for the current year.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded ATRenew from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.
View Our Latest Research Report on ATRenew
About ATRenew
(
Free Report)
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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