ATRenew (NYSE:RERE) Shares Up 8.5%

ATRenew Inc. (NYSE:RERE - Get Free Report)'s share price was up 8.5% on Wednesday . The stock traded as high as $2.95 and last traded at $2.95. Approximately 2,209,034 shares traded hands during mid-day trading, an increase of 170% from the average daily volume of 816,706 shares. The stock had previously closed at $2.72.

ATRenew Stock Performance

The firm's fifty day moving average is $1.82 and its two-hundred day moving average is $1.60. The company has a market cap of $693.85 million, a P/E ratio of -28.10 and a beta of -0.25.

ATRenew (NYSE:RERE - Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter. ATRenew had a positive return on equity of 2.61% and a negative net margin of 1.20%. The firm had revenue of $545.58 million during the quarter. On average, equities research analysts expect that ATRenew Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On ATRenew

A hedge fund recently bought a new stake in ATRenew stock. IvyRock Asset Management HK Ltd acquired a new stake in shares of ATRenew Inc. (NYSE:RERE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,000 shares of the company's stock, valued at approximately $67,000. ATRenew comprises 0.0% of IvyRock Asset Management HK Ltd's investment portfolio, making the stock its 18th biggest holding. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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