ATRenew (NYSE:RERE) Shares Up 10.4% – What’s Next?

ATRenew Inc. (NYSE:RERE)’s share price was up 10.4% during mid-day trading on Wednesday . The company traded as high as $3.14 and last traded at $3.14. Approximately 823,132 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 667,237 shares. The stock had previously closed at $2.84.

ATRenew Stock Up 9.7 %

The stock has a market cap of $759.66 million, a price-to-earnings ratio of -62.29, a PEG ratio of 0.41 and a beta of 0.10. The company has a 50 day simple moving average of $2.81 and a 200-day simple moving average of $2.70.

Hedge Funds Weigh In On ATRenew

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC acquired a new stake in ATRenew in the third quarter worth $95,000. WT Asset Management Ltd acquired a new position in shares of ATRenew in the 3rd quarter worth approximately $159,000. Harvest Fund Management Co. Ltd boosted its stake in shares of ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after acquiring an additional 649,214 shares in the last quarter. Walleye Capital LLC acquired a new stake in ATRenew during the 3rd quarter worth about $32,000. Finally, Centiva Capital LP raised its holdings in shares of ATRenew by 342.2% during the third quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after acquiring an additional 58,413 shares during the period. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.