ATRenew (NYSE:RERE) Stock Price Up 7.1%

ATRenew Inc. (NYSE:RERE) shares traded up 7.1% during mid-day trading on Friday . The company traded as high as $2.56 and last traded at $2.55. 563,135 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 989,081 shares. The stock had previously closed at $2.38.

ATRenew Stock Up 6.7 %

The business has a fifty day simple moving average of $2.38 and a 200-day simple moving average of $1.85. The firm has a market cap of $619.43 million, a P/E ratio of -21.25, a P/E/G ratio of 0.50 and a beta of -0.17.

ATRenew (NYSE:RERE) last issued its quarterly earnings results on Monday, May 20th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). ATRenew had a negative net margin of 1.44% and a positive return on equity of 2.74%. The company had revenue of $505.68 million for the quarter, compared to the consensus estimate of $493.00 million. On average, sell-side analysts anticipate that ATRenew Inc. will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On ATRenew

A hedge fund recently bought a new stake in ATRenew stock. IvyRock Asset Management HK Ltd acquired a new stake in shares of ATRenew Inc. (NYSE:RERE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,000 shares of the company’s stock, valued at approximately $67,000. ATRenew comprises about 0.0% of IvyRock Asset Management HK Ltd’s holdings, making the stock its 18th largest holding. Hedge funds and other 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.