ATRenew (NYSE:RERE) Stock Price Down 5.8% – Here’s What Happened

ATRenew Inc. (NYSE:RERE)’s stock price was down 5.8% during trading on Thursday . The company traded as low as $3.04 and last traded at $2.99. Approximately 225,724 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 615,548 shares. The stock had previously closed at $3.17.

ATRenew Trading Down 6.5 %

The firm has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $2.68. The firm has a market cap of $723.07 million, a P/E ratio of -59.49, a PEG ratio of 0.42 and a beta of 0.10.

Institutional Trading of ATRenew

Institutional investors have recently modified their holdings of the company. Yiheng Capital Management L.P. lifted its position in ATRenew by 107.7% during the fourth quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company’s stock valued at $9,110,000 after acquiring an additional 1,639,859 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in shares of ATRenew by 31.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after purchasing an additional 724,415 shares in the last quarter. Invesco Ltd. boosted its position in shares of ATRenew by 1,718.6% in the 4th quarter. Invesco Ltd. now owns 1,896,877 shares of the company’s stock worth $5,463,000 after purchasing an additional 1,792,572 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in ATRenew by 101.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company’s stock worth $4,713,000 after buying an additional 822,998 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in ATRenew by 33.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,399,214 shares of the company’s stock valued at $4,016,000 after buying an additional 350,000 shares in the last quarter. 19.29% of the stock is currently owned by institutional investors.

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.