Millennium Management LLC Raises Stock Holdings in ATRenew Inc. (NYSE:RERE)

Millennium Management LLC increased its holdings in shares of ATRenew Inc. (NYSE:RERE - Free Report) by 252.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 659,508 shares of the company's stock after purchasing an additional 472,322 shares during the quarter. Millennium Management LLC owned 0.27% of ATRenew worth $1,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RERE. Price T Rowe Associates Inc. MD purchased a new stake in ATRenew during the fourth quarter valued at $6,623,000. Invesco Ltd. increased its position in ATRenew by 1,718.6% during the fourth quarter. Invesco Ltd. now owns 1,896,877 shares of the company's stock valued at $5,463,000 after acquiring an additional 1,792,572 shares during the last quarter. Yiheng Capital Management L.P. increased its position in ATRenew by 107.7% during the fourth quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company's stock valued at $9,110,000 after acquiring an additional 1,639,859 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in ATRenew by 101.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company's stock valued at $4,713,000 after acquiring an additional 822,998 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. increased its position in ATRenew by 31.3% during 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 acquiring an additional 724,415 shares during the last quarter. 19.29% of the stock is owned by institutional investors.

ATRenew Stock Down 0.4%

RERE traded down $0.01 during midday trading on Wednesday, reaching $2.45. The company had a trading volume of 515,337 shares, compared to its average volume of 1,048,065. The business has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.80. The company has a market cap of $597.49 million, a P/E ratio of -48.99, a P/E/G ratio of 0.41 and a beta of 0.06. ATRenew Inc. has a 1 year low of $2.00 and a 1 year high of $3.70.

ATRenew (NYSE:RERE - Get Free Report) last issued 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 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, equities research analysts predict that ATRenew Inc. will post 0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.