ATRenew (NYSE:RERE) Trading Up 8.9% – Time to Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE)’s stock price traded up 8.9% on Wednesday . The stock traded as high as $6.27 and last traded at $6.1550. 1,176,277 shares were traded during mid-day trading, an increase of 2% from the average session volume of 1,152,163 shares. The stock had previously closed at $5.65.

Analyst Ratings Changes

Several research analysts have commented on RERE shares. Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, ATRenew currently has a consensus rating of “Hold”.

ATRenew Stock Performance

The business’s 50 day moving average price is $5.69 and its two-hundred day moving average price is $4.84. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 37.69 and a beta of 0.19.

Hedge Funds Weigh In On ATRenew

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC raised its stake in shares of ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock worth $194,000 after buying an additional 9,094 shares in the last quarter. Caxton Associates LLP bought a new stake in ATRenew in the first quarter worth about $114,000. Acadian Asset Management LLC raised its position in ATRenew by 41.9% in the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock worth $12,622,000 after acquiring an additional 1,127,933 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in ATRenew by 4.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock valued at $10,444,000 after acquiring an additional 120,000 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in ATRenew by 160.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock valued at $1,759,000 after acquiring an additional 327,715 shares during the last quarter. 19.29% of the stock is owned by institutional investors.

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. The company was formerly known as AiHuiShou International Co Ltd.