Short Interest in ATRenew Inc. (NYSE:RERE) Expands By 66.7%

ATRenew Inc. (NYSE:RERE - Get Free Report) saw a significant growth in short interest in 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. Based on an average trading volume of 970,100 shares, the short-interest ratio is presently 2.2 days. Approximately 1.0% of the company's shares are short sold.

Institutional Investors Weigh In On ATRenew

Large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in ATRenew during the 4th quarter valued at $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in ATRenew during the 1st quarter valued at $32,000. Harbour Capital Advisors LLC acquired a new stake in ATRenew during the 1st quarter valued at $33,000. PFG Investments LLC acquired a new stake in ATRenew during the 1st quarter valued at $40,000. Finally, Virtu Financial LLC acquired a new stake in ATRenew during the 1st quarter valued at $48,000. 19.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ATRenew Stock Down 2.7%

Shares of ATRenew stock traded down $0.08 during trading hours on Friday, hitting $2.68. The company's stock had a trading volume of 379,744 shares, compared to its average volume of 1,031,508. ATRenew has a 1-year low of $2.00 and a 1-year high of $3.70. The business has a fifty day moving average of $2.48 and a 200 day moving average of $2.79. The company has a market capitalization of $652.36 million, a PE ratio of -53.49, a P/E/G ratio of 0.41 and a beta of 0.09.

ATRenew (NYSE:RERE - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. The business had revenue of $641.26 million during the quarter, compared to analyst estimates of $4.62 billion. On average, sell-side analysts anticipate that ATRenew will post 0.09 earnings per share for the current fiscal year.

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.

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