ATRenew (NYSE:RERE) Shares Up 1.8% – Time to Buy?

ATRenew Inc. (NYSE:RERE) shot up 1.8% on Friday . The company traded as high as $2.87 and last traded at $2.86. 163,656 shares were traded during trading, a decline of 85% from the average session volume of 1,063,802 shares. The stock had previously closed at $2.81.

ATRenew Price Performance

The business has a 50-day moving average of $2.79 and a two-hundred day moving average of $2.57. The company has a market cap of $736.49 million, a P/E ratio of -60.39, a P/E/G ratio of 0.60 and a beta of 0.07.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RERE. Acadian Asset Management LLC acquired a new position in shares of ATRenew during the second quarter worth $3,328,000. Harvest Fund Management Co. Ltd increased its position in ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock valued at $2,906,000 after buying an additional 649,214 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in ATRenew in the second quarter valued at about $1,396,000. Harber Asset Management LLC boosted its holdings in ATRenew by 14.6% in the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after acquiring an additional 139,842 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in ATRenew by 231.8% in the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after acquiring an additional 134,151 shares in the last quarter. Institutional investors 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.