Short Interest in ATRenew Inc. (NYSE:RERE) Drops By 44.2%

ATRenew Inc. (NYSE:RERE - Get Free Report) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,290,000 shares, a decline of 44.2% from the April 30th total of 2,310,000 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RERE. NewEdge Advisors LLC bought a new position in ATRenew during the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd acquired a new position in shares of ATRenew in the 1st quarter worth approximately $32,000. Harbour Capital Advisors LLC acquired a new position in ATRenew during the 1st quarter worth about $33,000. PFG Investments LLC bought a new position in ATRenew in the 1st quarter worth approximately $40,000. Finally, QRG Capital Management Inc. acquired a new position in ATRenew during the 4th quarter worth $48,000. 19.29% of the stock is owned by institutional investors.

ATRenew Stock Performance

Shares of NYSE RERE remained flat at $2.46 during trading hours on Wednesday. The company had a trading volume of 407,157 shares, compared to its average volume of 1,047,738. The company has a market capitalization of $599.93 million, a P/E ratio of -49.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.06. ATRenew has a twelve month low of $2.00 and a twelve month high of $3.70. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $2.80.

ATRenew (NYSE:RERE - Get Free Report) last issued its 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). The business had revenue of $641.26 million for the quarter, compared to analyst estimates of $4.62 billion. ATRenew had a negative net margin of 0.53% and a positive return on equity of 6.87%. Research analysts predict that ATRenew will post 0.09 earnings per share for the current year.

Analyst Ratings Changes

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

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; 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.