ATRenew Inc. (NYSE:RERE) Sees Significant Decrease in Short Interest

ATRenew Inc. (NYSE:RERE - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 362,000 shares, a drop of 60.2% from the March 15th total of 910,100 shares. Based on an average daily volume of 604,000 shares, the days-to-cover ratio is presently 0.6 days.

ATRenew Trading Up 0.6 %

NYSE RERE traded up $0.01 on Thursday, reaching $1.72. The stock had a trading volume of 518,710 shares, compared to its average volume of 583,976. ATRenew has a 1 year low of $1.01 and a 1 year high of $3.30. The business has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.58. The company has a market capitalization of $427.75 million, a price-to-earnings ratio of -17.20 and a beta of -0.14.

ATRenew (NYSE:RERE - Get Free Report) last posted its earnings results on Tuesday, March 12th. The company reported $0.03 EPS for the quarter. The company had revenue of $545.58 million during the quarter. ATRenew had a negative net margin of 1.20% and a positive return on equity of 2.61%. On average, analysts anticipate that ATRenew will post 0.04 earnings per share 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 stock. BlackRock Inc. grew its position in shares of ATRenew by 37.1% in the first quarter. BlackRock Inc. now owns 685,409 shares of the company's stock valued at $2,426,000 after purchasing an additional 185,409 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of ATRenew by 54.7% in the first quarter. Hsbc Holdings PLC now owns 508,624 shares of the company's stock worth $1,783,000 after acquiring an additional 179,929 shares during the last quarter. Toroso Investments LLC bought a new position in ATRenew during the first quarter worth $96,000. Renaissance Technologies LLC acquired a new position in ATRenew during the 2nd quarter valued at $85,000. Finally, Cubist Systematic Strategies LLC bought a new stake in ATRenew in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 19.29% of the company's stock.

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, household products, and bags 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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