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

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

ATRenew Price Performance

Shares of RERE traded down $0.04 during mid-day trading on Monday, reaching $2.54. 469,202 shares of the company's stock traded hands, compared to its average volume of 1,051,969. The stock has a market cap of $619.43 million, a P/E ratio of -50.79, a P/E/G ratio of 0.41 and a beta of 0.06. The stock's 50-day moving average is $2.53 and its two-hundred day moving average is $2.80. ATRenew has a 12 month low of $2.00 and a 12 month high of $3.70.

ATRenew (NYSE:RERE - Get Free Report) last released its 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 business had revenue of $641.26 million for the quarter, compared to the consensus estimate 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.

Institutional Trading of ATRenew

A number of large investors have recently modified their holdings of the company. Yiheng Capital Management L.P. boosted its holdings in shares of ATRenew by 107.7% in 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 purchasing an additional 1,639,859 shares during the period. Prescott Group Capital Management L.L.C. boosted its holdings in shares of ATRenew by 31.3% in 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 purchasing an additional 724,415 shares during the period. Invesco Ltd. boosted its holdings in shares of ATRenew by 45.6% in the first quarter. Invesco Ltd. now owns 2,760,925 shares of the company's stock valued at $8,117,000 after purchasing an additional 864,048 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of ATRenew by 27.4% in the first quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock valued at $7,899,000 after purchasing an additional 579,334 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of ATRenew in the fourth quarter valued at approximately $6,623,000. Hedge funds and other institutional investors own 19.29% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised ATRenew from a "buy" rating to a "strong-buy" rating in a research note 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.