ATRenew (NYSE:RERE) Shares Up 7.7% – Time to Buy?

ATRenew Inc. (NYSE:RERE) shares were up 7.7% during trading on Tuesday . The stock traded as high as $2.96 and last traded at $2.95. Approximately 1,335,675 shares were traded during mid-day trading, an increase of 32% from the average daily volume of 1,010,905 shares. The stock had previously closed at $2.74.

ATRenew Stock Up 13.5 %

The business’s fifty day moving average is $2.56 and its 200-day moving average is $2.49. The company has a market cap of $758.44 million, a PE ratio of -58.99, a P/E/G ratio of 0.58 and a beta of -0.13.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of ATRenew in the second quarter valued at $3,328,000. Harber Asset Management LLC lifted its position in ATRenew by 14.6% during the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after purchasing an additional 139,842 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of ATRenew by 162.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after buying an additional 649,214 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in shares of ATRenew in the 2nd quarter worth about $1,396,000. Finally, Renaissance Technologies LLC raised its position in shares of ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after buying an additional 115,853 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.