ATRenew (NYSE:RERE) Stock Price Down 4.9% – Should You Sell?

ATRenew Inc. (NYSE:RERE) shares dropped 4.9% during trading on Monday . The company traded as low as $2.86 and last traded at $2.89. Approximately 743,202 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 1,069,059 shares. The stock had previously closed at $3.04.

ATRenew Trading Down 5.3 %

The company has a market capitalization of $702.35 million, a price-to-earnings ratio of -57.59, a PEG ratio of 0.60 and a beta of 0.07. The company has a 50 day moving average price of $2.80 and a 200 day moving average price of $2.58.

Institutional Investors Weigh In On ATRenew

Several institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new position in ATRenew in the second quarter valued at about $3,328,000. Harber Asset Management LLC increased its stake in shares of ATRenew by 14.6% in the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after acquiring an additional 139,842 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position 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 valued at $2,906,000 after acquiring an additional 649,214 shares during the period. BRIGHT VALLEY CAPITAL Ltd bought a new position in ATRenew during the 2nd quarter worth approximately $1,396,000. Finally, Renaissance Technologies LLC boosted its stake in ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after acquiring an additional 115,853 shares during the last quarter. Institutional investors and hedge funds 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.