ATRenew Inc. Sponsored ADR (NYSE:RERE) Short Interest Up 66.7% in May

ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,150,000 shares, a growth of 66.7% from the May 15th total of 1,290,000 shares. Currently, 1.0% of the company's stock are short sold. Based on an average daily trading volume, of 970,100 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

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

ATRenew Trading Down 1.6%

Shares of RERE traded down $0.05 during mid-day trading on Wednesday, hitting $2.79. The company's stock had a trading volume of 243,516 shares, compared to its average volume of 1,020,094. The firm has a market capitalization of $679.18 million, a P/E ratio of 39.79 and a beta of 0.09. ATRenew has a 1-year low of $2.00 and a 1-year high of $3.70. The firm has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.78.

ATRenew (NYSE:RERE - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.62 billion. ATRenew had a net margin of 0.73% and a return on equity of 8.91%. As a group, sell-side analysts predict that ATRenew will post 0.09 EPS for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new stake in ATRenew in the 4th quarter valued at about $29,000. JTC Employer Solutions Trustee Ltd purchased a new stake in ATRenew during the first quarter valued at about $32,000. Harbour Capital Advisors LLC acquired a new stake in ATRenew during the 1st quarter valued at $33,000. PFG Investments LLC purchased a new stake in ATRenew in the 1st quarter worth about $40,000. Finally, QRG Capital Management Inc. purchased a new position in ATRenew during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 19.29% of the company's stock.

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.